Greece has emerged as a frontrunner in utilising the European Union's Recovery and Resilience Plan (RRP), according to a recent conference.
The country is the biggest beneficiary relative to its GDP, receiving €35.95 billion (over 17% of GDP) compared to the EU average of 4.1%. Greece has already received €15 billion and is among six member states to receive three disbursements.
State Minister Akis Skertos emphasises the plan goes beyond simply absorbing funds and aims to create lasting value for Greece's convergence (catching up economically with other EU members).
Skertos credits the plan with supporting growth in a high-interest-rate environment, where Greece might otherwise be in recession. The country has completed 52 out of 139 required reform milestones by the program's end (August 2026).
Deputy Minister Nikos Papathanasis confirms Greece will submit the 4th disbursement request by April and the 5th by September/October. He highlights the crucial role of the plan's low-interest loan component in addressing Greece's investment gap. Over €11 billion in contracts have been signed, with €4.7 billion financed by loans.
Papathanasis acknowledges areas needing faster progress, such as the justice system and public administration reforms. The conference underscores Greece's success in utilising EU funds for recovery and growth. However, there's a call for continued efforts to ensure timely implementation and address remaining bottlenecks.
(Source: Amna)
