South East Europe has undergone a significant transformation in recent decades with the transition to market-based economies. With the impetus provided by EU integration, the region has implemented reforms which have enhanced economic stability and growth and narrowed the gap with EU living standards.
Average GDP per capita across the six Western Balkan economies has risen by 80% from USD 9,725 in 2003 to USD 17,505 in 2022 – a remarkable increase though still only 38% of the EU level. Over the same two decades, the three SEE OECD accession candidate countries – Bulgaria, Croatia, Romania – have demonstrated an even more…
