European Commission starts approving Member States’ economic recovery plans / Article

The European Commission (EC) and national ministers have begun approving the economic recovery programs of the European Union (EU) member states. The President of the European Commission, Urzula von der Leiena, has already solemnly presented the approved plans to the Heads of Government of Portugal, Spain, Greece and Denmark.

It is expected that the final decision of the European Commission on the plan submitted by Latvia could be known at the beginning of next week.

German Finance Minister Olaf Scholz welcomed the progress made ahead of Thursday’s EU ministerial meeting.

“We are making very good progress. All the decisions that needed to be approved to launch the Next Generation EU program have already been taken. We are now working on the approval of the National Recovery Plans. I am very confident that many of them will be able to maneuver very soon. Options.

This will be a very good message for the whole of Europe, because it means that we are working together to fight the coronavirus pandemic. In addition, all of these programs are already running because they had to be set up in advance. That is why we are already acting together. “

Latvia submits its plan to the European Commission submitted at the end of April.

CONTEXT:

The Recovery and Resilience Facility is a new EC centrally managed budget program set up in addition to 2021-2027. the multiannual budget of the European Union (EU) for the 2007-2013 programming period. It aims to support reforms and investments related to the transition to a green and digital economy, as well as to reduce the social and economic impact of the crisis.

The plan of the Latvian Recovery Fund has been prepared in accordance with the objectives of the National Development Plan, taking into account the recommendations of the EC and the recommendations of the EU Council for the stable and successful growth of Latvia. The fund’s resources could be available to Latvia in the second half of this year, and they should be invested by 2026.

The Latvian government has updated its plan to attract 1.82 billion euros from the EU Recovery and Sustainability Mechanism approved on 27 April.

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