Nov 6, 2024

Strengthening Capacities for Economic Impact Assessment

The recent learning event for officials from the Western Balkans and Türkiye was invaluable for participants involved in implementing Reform Agendas (RAs) and Economic Reform Programmes (ERPs). It gathered policymakers and analysts focused on assessing the economic impacts of reforms to support private sector development and improve the business environment. Ms. Anastasija Perućica from the Directorate for Financial System and Policy Coordination at Montenegro’s Ministry of Finance and Ms. Ilva Prifti, IPA Rural Development (IPARD) Sector Specialist at the Albanian Ministry of Finance and Economy, found the event invaluable in strengthening their capacities for economic impact assessment. They gained practical skills and insights that will strenghten their ability to assess and prioritize economic reforms in their respective countries.

Ms. Perućica and Ms. Prifti joined the event motivated wishing to deepen their understanding of economic impact assessment and gain practical skills. For Ms. Perućica, the workshop aligned closely with her role at the Ministry of Finance in Montenegro, where she is currently evaluating reforms to improve the business environment. Ms. Prifti, working within the IPARD sector, recognized the critical role that robust assessments play in prioritizing policy changes that drive growth and enhance the effectiveness of reforms.

Both participants highlighted that the event significantly enhanced their understanding of methodologies for assessing the economic impact of reforms. Through sessions that explored specific tools and approaches, they gained new perspectives on evaluating reforms effectively within their national contexts. Ms. Prifti noted that prior to the workshop, her familiarity with specific assessment indicators was limited, but the training provided her with a structured approach to prioritize reforms based on societal needs and potential economic impacts.

The Spreadsheet Toolkit emerged as a particularly valuable resource for many participants. Ms. Perućica shared that it allowed her to approach reform assessments with greater data-driven accuracy, which is critical for initiatives in Montenegro, such as improving e-registration for companies. Ms. Prifti also found the toolkit indispensable for creating dynamic models within her IPARD sector work. This practical tool supports participants in building comprehensive, quantifiable models that enhance the transparency and accuracy of economic impact assessments.

The workshop’s use of real-world case studies, such as North Macedonia’s ERP and Kosovo’s digitalization efforts, was especially beneficial. These examples provided participants with practical insights into how economic impact assessments are conducted and demonstrated the complexities of prioritizing reforms. For instance, Ms. Perućica found North Macedonia’s case study useful in illustrating structured assessment processes, which she can now apply in Montenegro’s reform agenda. Similarly, Ms. Prifti highlighted the importance of considering both quantitative metrics and qualitative societal impacts, particularly for initiatives in Albania aimed at improving rural development.

Beyond technical skills, the event fostered connections among participants, enabling the exchange of ideas and best practices. Ms. Prifti emphasized the value of networking, noting that the engaging format encouraged discussions that may lead to future collaborations across the region. This shared learning environment helped participants not only to gain practical tools but also to build relationships with peers working on similar challenges in different contexts.

Both Ms. Perućica and Ms. Prifti expressed strong support for this initiative, recommending it to colleagues engaged in policy evaluation and reform implementation. The event’s blend of theoretical foundation and practical tools equipped participants with essential knowledge to make informed, evidence-based decisions. The focus on real-world applications and actionable insights ensured that the workshop’s content was directly relevant to participants’ work, contributing to their countries’ efforts to strengthen economic reforms and drive sustainable development.

In conclusion, this workshop successfully provided participants with critical skills, practical tools, and collaborative opportunities. As countries across the Western Balkans and Türkiye continue to advance their economic reform agendas, such capacity-development efforts are essential for creating a data-driven approach to policy planning, ultimately fostering economic resilience and growth.