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Новости рынка недвижимости
Категории
Economy

Brussels considers that Portugal has fallen short of its RRP targets

22 ФЕВРАЛЯ 2024
Темы
Portugal Zona Euro PRR Despesas Finanças PIB (Produto Interno Bruto) Europa
The Recovery and Resilience Plan could have an impact of between 3% and 3.5% of Portugal's GDP, but only in a high productivity scenario.
Brussels considers that Portugal has fallen short of its RRP targets
Source: Freepik
Author: Redaction

The Recovery and Resilience Mechanism (RRM), which has been in force for three years, could have a variable impact on Gross Domestic Product (GDP) until 2026, when it reaches its peak. This mechanism, which finances the Recovery and Resilience Plan (PRR), places Portugal in fifth place in the ranking of countries where the impact is greatest. 

According to the review report released this Wednesday, February 21, Portugal is in fifth place as the country where the Recovery and Resilience Plan has had the greatest impact, only behind Greece, Croatia, Spain and Bulgaria, with Brussels estimating that the impact could vary, in Portugal's case, between 3% and 3.5% of GDP in a scenario where there is high productivity, or from 2% to 2.5% of GDP in the case of low productivity.

The estimates, applied to the peak scenario, are related to the effects of the national plan as well as the consequences for the economy of the Community area, and include "the significant impact expected from the strengthening of growth of the reforms included in the recovery plans, which is reflected in the long term", as explained by the European Commission.

"Member states with a GDP per capita below the average are expected to see the largest increase in GDP levels due to the significant investments of the RRF", as they have been "the most affected by the pandemic".

However, in the opinion of the vice-president of the European Commission, Valdis Dombrovskis, Portugal "has not satisfactorily met" some of the proposed targets, believing that there is still "work to be done" in receiving the suspended payments. Even so, he said that he has "additional time to meet the outstanding milestones and targets". 

Темы
Portugal Zona Euro PRR Despesas Finanças PIB (Produto Interno Bruto) Europa
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