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РSУOБCРIИEКTАY

nies, in addition to the other sources
of financing, can also use financial
support within the programs of the
Union, such as Horizon 2020, Cosme,
Erasmus+ and other programs with a
value of more than 100 billion Euros
for the period since 2014 and 2020.
Still, considering the threefold differ-
ences in regard to the unemployment
rate and the life standard between the
Eurozone and the Republic of Macedo-
nia, there is still an open challenge to
continue the structural reforms and
policies to attract investments in proj-
ects and sectors which will create the
connections with the global economy
in the fastest way.

The path to integrated
and developed economy

For small countries such as Mace-
donia, it is not disputable whether
they should integrate into the Euro-
pean Union. The only question that
applies for these countries is how to
accelerate this process. For this rea-
son Macedonia should accelerate the
steps towards the European integra-
tion because this means a much wider
marker, greater competition, more
opportunities and an increased safety
for the citizens.

An economic model of growth is re-
quired, mostly based on the creation
of new job positions (in the private
sector), though an increase of com-
petitiveness, improvement of the in-
frastructure and the business climate,
transparent and responsible manage-
ment of public finance aimed at sup-
port and stimulation of investments,
as well as affirmation of social and
territorial cohesion, simultaneously
promoting equal regional develop-
ment. Foreign investments will cer-
tainly promote the import and they
will increase the economic productiv-
ity, that is, knowledge-based economy
will be promoted or a model of eco-
nomic growth based on competitive
and integrated economy with equal
opportunities for all economic fac-
tors.

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