ECONOMY

Greek GDP to benefit by up to 3.3% from EU cash

greek-gdp-to-benefit-by-up-to-3-3-from-eu-cash

The Recovery and Resilience Facility (RRF), using the cash of the Next Generation EU fund, will boost the Greek economy much more than other European Union countries, according to Maarten Verwey, head of the Economic and Financial Affairs Directorate General at the European Commission.

Addressing a Bruegel think tank online event alongside the prime minister’s chief financial adviser, Alex Patelis, Verwey argued that the average boost to Greece’s gross domestic product by 2026 from the implementation of the national recovery and resilience blueprint will range between 2.1% and 3.3%, against an EU average of 1.3%.

Both speakers stressed that this rate does not include the favorable impact from the reforms included in the national plans.

Patelis added that, according to a Bank of Greece analysis, the realization of the 68 reforms in the “Greece 2.0” plan will bolster the Greek GDP by 6 percentage points indefinitely.