The plan for the Acceleration of the Implementation of Projects funded by national and/or European funds, as well as the more effective absorption of funds, is included in the draft law for the Public Investment Development Program, presented today by the Minister of National Economy and Finance, Kostis Hatzidakis, and the Deputy Minister, Nikos Papathanasis.
The draft law also aims at better project planning, timely securing of funding, and further reduction of bureaucracy. For the first time, a mechanism is proposed to ensure the necessary maintenance of projects, as well as a separate funding account for addressing natural disasters.
In the top positions of the EU, Greece ranks first in terms of funds from the ESPA (European Structural and Investment Funds) and the Recovery Fund.
During the interview, data regarding the country’s performance in investment and absorption of EU funds were presented.
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Specifically:
– Between 2019 and 2023, Greece exhibited the highest percentage increase in investments in the EU, with a rate of 41.3%, compared to the eurozone average of 1%.
– The ESPA 2014-2020 currently has an absorption rate of 97%, with only the declaration of expenses already incurred remaining to achieve full, 100% absorption of the funds.
– Collectively, Greece secured the highest amount of resources among the “27” in relation to the population from both the ESPA 2021-2027 and the Recovery Fund. Correspondingly, the available resources from the Recovery Fund (loans and grants) for our country amount to 19.66% of GDP, the highest percentage among the “27.”
– Greece’s allocation from the ESPA 2021-2027 amounts to 26.2 billion euros (20.9 billion from EU participation and 5.3 billion from national contribution), with the Greek program being the first among the “27” to be approved by the EU. According to the most recent (May 8) EU data, the country’s fund absorption rate from the program is the third highest in the EU, significantly higher than the average of the “27.”
– Regarding the Recovery Fund, Greece ranks sixth among the “27” in terms of fund absorption rate, having absorbed 41.4% of the funds, compared to the EU average of 29.4%. Additionally, our country has fulfilled 23% of the milestones associated with funding from the Fund, compared to the EU average of 17% among the “27.”
