Stability and structure: Interactions in economic growth

The recent economic development of the region confirms that stability has not yet been firmly consolidated in it. There are still some structural factors of macroeconomic instability, various sequels of the debt crisis have not yet been overcome, and fresh macroeconomic tensions of various origins have made their appearance. The challenge currently facing economic policy is to implement reform and growth policies while maintaining the recent achievements in terms of stability. A prior requisite for this is a proper understanding of the way macroeconomic and microeconomic factors interact: the mutual influence of constraints in terms of macroeconomic consistency, on the one hand, and the imbalances generated in the reform process and the consequent changes in the production base, on the other.