ECONOMY

Public Investment Program for five years

public-investment-program-for-five-years

An Economy Ministry bill seen by Kathimerini will extend the national section of the Public Investments Program (PIP) from one to five years and place it under public scrutiny.

The bill, which will go to Parliament next year, will be announced in the coming days by Economy Minister Yiannis Dragasakis during his speech in Parliament at the debate on the 2019 budget.

Ministry officials point out that in the years before the outbreak of the financial crisis, the national leg of the program (as opposed to the European one, which is funded by Brussels) used to lack planning, a medium-term perspective and targeting.

The national section will be drafted by the newly formed National PIP Management Department, and will include the breakdown of national targets into sector-specific and region-specific goals, with indicative investment priorities. It will also contain the total (five-year) and the annual distribution of the budget per project, implementation timetables and the results expected through countable goals.

Before its ratification, the national section of the PIP will be uploaded onto an open online platform for consultation with ministries, local authorities, social and economic partners, non-governmental organizations and citizens. There will also be a parliamentary debate on it.