Roller for the Recovery Fund: “Hot” October for the new review – What the Commission is discussing with Athens

Only a month, that is, until the end of October, is available to Athens to reach the revised Greek plan for investment by raising resources from the Recovery fundthese days in feverish processes with the Commission.

What is being examined by financial officials along with Commission officials is what investments should “go out” as inappropriate – liberating funds for redirects in other investments – and what to be amended for their quantitative goals in order not to lose a single euro.

Time is pushing as the program is completed in 2026, and there will be no flexibility of a day, as characteristic sources in Brussels emphasize. By August 31, 2026, all the milestones and the goals of the national plans must be completed, and by 31 December 2026 the Commission must have made all the disbursements. There will be no payments in 2027 and there is no possibility of expanding the program, as the same sources point out.

It is noted that Brussels recognizes Athens’ progress in terms of the speed of the program compared to other Member States. However, half of the milestones have not been implemented, which means that the country must cover in one year the distance it has passed to the previous four.

Indeed, after carefully examined the milestones and targets of current investment, the government should end up on October 30 in its proposal for the revised “Greece 2.0”, a Deadline that is strict and unmoved, and it will depend on it, and if Greece is in its 20th order. It is recalled that the 6th request is discussed hereof, which corresponds to 1% of Greek GDP.

Which works are in the microscope

As the Brussels sources point out, each investment is currently being considered one by one. Particular emphasis is placed on major infrastructure reforms. They point out that these are investments that are already “running” (agreements have been concluded, orders have been made, etc.) and will be completed in one way or another. The question is, the same sources point out whether they will be completed with the money of the recovery fund or whether there will be a need for funding with other funds (cohesion fund, national resources COK).

In the present, under the microscope of the institutions is the health reform with the upgrading of 18 hospitals and 176 health centers. It is examined whether the goals are feasible or if they need adjustment. The microscope has also been the grand reform of the railways.

In addition, attention is paid to the energy sector. Without yet anything tangible, the same sources point out that they will not even exclude the complete replacement of some investments, with indicative reference to energy storage programs.

The section of loans

The assessment of Brussels is that Greece is doing well in the loan side. However, they see the need for adjustments between the credit lines to “get out” and to close contracts with final beneficiaries in time, taking into account the demand for businesses and where it is directed.

They point out that the review of the program is the “ticket” to access payments with new data and emphasize that this is the last opportunity for investment rearrangements.

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