Economic policy sets the goals and provides the tools through which economic growth and citizens' prosperity is achieved. It requires strict control over public spending at national and local level. The main factors on which its successful implementation is based, are as follows:
- Setting development priorities
- Deciding on the specific ways and steps for the realization of strategic goals
- Exercising strict control over spending
- Performing monitoring of the quantity and quality of public services provided
- Interacting with all stakeholders - state, regional and municipal administrations, NGOs, academia, business and citizens
- Providing a feedback mechanism
The mission of economic policy is to achieve objective-based and lawful, efficient and effective spending of public resources. This requires the achievement of public consensus on long-term development goals and ways to achieve sustainable economic growth.
Economic policy covers a number of strategic development guidelines related to:
- Development of small and medium-sized enterprises
- Providing support for entrepreneurship
- Intelligent specialization and innovation development
- Ensuring a level playing field for the development of businesses and consumer protection
- Attracting investment - foreign and local
- Development of transport, energy and telecommunications
- Development of agriculture and rural areas, etc.