As the Greek government is scrambling to absorb the total sum of funds from the Recovery and Resilience Fund – a performance-based temporary recovery instrument designed to mitigate the economic and social impact of COVID-19 – by 2026, a top official familiar with the matter ruled out Greek authorities would request any time extension to utilize the allocated financial package due to snags or delays in projects.
According to the Stability Program, it is estimated that 3.6 billion euros will flow in from the Recovery Fund this year and an additional 5.1 billion euros in 2025 in subsidies, an amount equivalent to 1.5% of GDP in 2024 and 2% of GDP in 2025.
By April 22, funds totaling 5.75 billion euros had been transferred for approved projects of the Recovery Fund to entities within and outside the general government and final recipients.
In total, 768 projects and sub-projects with a total budget of 21.8 billion euros have already been approved and included in the subsidy program of the Recovery Fund. The approved projects include, among others: energy renovation of residential buildings, energy upgrading of public sector buildings, island electrical interconnections, energy storage investments, construction of highways, development of micro-satellite networks, implementation of the national secondary prevention program in public health, implementation of excellence strategy in universities and innovation, etc.
Source: tovima.com
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Intrum’s 2024 Report Unveils Greek Businesses Embrace Digitalization for Growth
Looking ahead, over 40% of businesses prioritize development for 2024, with 65% recognizing the potential of digital business models as sustainable investments
IOBE: Mild Drop in April Business Confidence Index (BCI) in Greece
The positive balance of expectations for employment witnessed a marginal decline, while the index for production forecasts also recorded a mild drop
Greek PM Mitsotakis Calls on EU to Intervene Over Multinationals’ Pricing Policy
Speaking about price fairness, the Prime Minister emphasized, "Europe should also mean similar or uniform prices for the products sold by our multinational corporations.
Greenhouse Gas Emissions: 4% Decrease in EU, 0.3% Rise in Greece in Q4 2023
The EU's GDP remained stable with a marginal 0.2% increase in fourth quarter of 2023
HEREMA CEO: High Expectations from Natgas Exploration Off Crete
3D seismic surveys were conducted in the two offshore blocks west and southwest of Crete by a consortium comprised of ExxonMobil and HelleniQ Energy
EC Spring Forecast: Greek GDP at 2.2 in 2024, 2.3% in 2025
Besides Greek GDP inflation is expected to drop by a substantial 2.4% in 2024, settling at 2.8% from 4.2% in 2023 with 2025 recording a further decline to 2.1%
EBRD Raises Outlook for Greek GDP to 2.3% in 2024, 2.6% in 2025
Key downside risks remain, associated with possible delays in deploying Recovery and Resilience Facility (RRF) funds and weaknesses in key export markets and tourism source countries
Real Estate Insights: Athens’ Top Areas with the Highest Yields
In the first quarter of 2024, Korydallos in the Piraeus region and the burgeoning Attiki Square retain their top spots with impressive yields of 6.3%
ELSTAT: Inflation at 3.1% in April
Olive oil (63.7%), fruit (11.6%), fish (10.6%), and mineral water (12.5%) registered the highest increases annually
Greek Sunlight CEO Joins Industry Titans at Choose France Summit
At the heart of the "Choose France Summit" was the discussion surrounding the production of lead-acid and lithium-ion batteries, crucial for the green transition and storage of renewable energy.
