“It is critical that Greece meets the timelines for submission of payment requests to the RRF and ensures a continuous flow of funding,” the European official told the Economist’s 26th conference
We consider Greece among the pioneers in the speed and quality of implementation of its programs Recovery and Resilience Fund (RRF)said the European Commission’s Deputy Director for Economic Affairs, Declan Costello, as part of the 26 Economist conference. He added, however, that the administration must continue to work at the same pace, pointing out that the Recovery Fund funds will be available until the end of 2026.
It is critical that Greece meets the timelines for submitting payment requests to the RRF and ensures a continuous flow of funding, which will send a “strong signal to markets and investors,” he added.
Regarding the financing so far, he said that 6.1 billion – 3% of GDP – has already been transferred to Greece and pointed out that we are working with the government so that in September another 1.7 billion will come and another 3.5 billion will follow at the end of year.
At the same time, the European official warned that “Greece must avoid the mistakes of the past, when the administration stopped working during the pre-election period”.
Mr. Costello expressed his satisfaction with the implementation of the Recovery Fund a year after its creation, by the Eurozone countries, whose economies are in dire need of it.
“It works great. We have been very positively surprised. We have approved 25 Plans. We have received 11 requests for payments and have paid 100 billion euros so far“, he said.
“Sustainable implementation and no changes to plans, except for a serious and objective reason“, he said closing his rebuttal in the context of the dialogue he had on the same panel with Deputy Finance Minister Theodoros Skylakakis, former Finance Minister Alexis Haritsis and foreign officials, moderated by journalist Yiannis Papageorgiou.
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