Deputy Prime Minister for European Integration Bozidar Djelic proposed today in the European Parliament in Brussels that the available EU funds for the Western Balkan countries be released more quickly so that they could get ready for EU membership as soon as possible.

In an expose to members of the Budget Committee of the European Parliament, Djelic said that now when they need it the most, these countries receive relatively small funds from the EU for the reform of their economy and public institutions, whereas once they become EU members the funds available increase several times, which will later create the problem of using such large funds at once.

He underlined that the funds the Western Balkan countries are asking for are really not that big since they make up for only 1% of the EU’s joint budget.

The Deputy Prime Minister, who spoke on behalf of all Western Balkan countries, won the support of this committee for these proposals. He will also discuss this matter tomorrow with the relevant commissioners of the European Commission, which will present the first proposals for the EU budget for the period 2013-2020 later this month.

Djelic explained that this would enable our country and the region to build roads more quickly, railways, power plants, to invest more in agriculture, science and preservation of the environment.

He offered that Western Balkan countries harmonise twice a year their budgets and the overall macroeconomic policies with that of the EU and that the EU, if it concludes that the budgets and public finances are sustainable, guarantee that these countries have access to the capital market and that they take loans under terms that apply for EU states.

This would mean lower interest rates and costs and thus Serbia could save up to €1 billion every year.

During the discussion, European Parliament members praised Serbia for the progress it has achieved lately.