Skylakakis: The implementation of the “Greece 2.0” program exceeded all expectations
As the Deputy Minister of Finance pointed out, the plan is going well, but the road ahead is still full of difficulties. He added that the successful implementation of the hundreds of public tenders, in the grant section, is not taken for granted.
The Deputy Minister of Finance referred to the speed with which Greece acted for its inclusion in the Recovery Fund during his speech from his podium 24th Annual Conference her Capital Link at New York “Invest in Greece Forum”. According to Theodore Skylakakis, plan “Greece 2.0” includes 106 investments and 68 reforms, height 30 billion euro, which “it is a plan that aims to lead to a fundamental, economic and social transformation of the country, having a catalytic effect on economic activity, technologies, institutions and behaviours”.
As pointed out by Assoc. SECthe “Greece 2.0” is going well, but the road ahead is still full of difficulties. He added that the successful implementation of the hundreds of public tenders, in the grant section, is not taken for granted. In conclusion, he emphasized that “Our ultimate goal is not only to achieve a strong economic recovery, but to enter a stable path of high growth and change the productive model of the country.”
In detail in his speech, Mr. Skylakakis mentioned the following:
“The National Recovery and Resilience Plan “Greece 2.0” it was the second national plan submitted and the third approved by the European Commission. Greece is at the forefront of implementing the plan, among other European partners, as it has already received 7.52 billion euros from the Recovery and Resilience Fund. Adding the second payment request, which has already been approved by European Commission – we expect it to be approved by Economic and Monetary Committee (EFC)- the total amount that will flow in, from Recovery Fundin Greece, by January 2023, it will reach 11.08 billion euro.
Greece is the fourth country to request a second payment from the Recovery Fund, as the implementation of the loan program has far exceeded all expectations. The “Greece 2.0” includes 106 investments and 68 reforms. From 30 billion euro, European funds (grants: 17.41 billion euros and loans: 12.73 billion euros) that correspond to our country, are mobilized, in total, 60 billion euros in investments over the next four years. These will lead to a permanent increase GDP against 7 units and will create 180,000 – 200,000 new job positions.
It is a plan that aims to lead to a fundamental, economic and social transformation of the country, having a catalytic effect on economic activity, technologies, institutions and behaviours. The most innovative part of the national plan is the unprecedented mobilization of private capital, both through the grant program and through this loan. From 60 billion euros, which we expect to mobilize from our plan, the 45 billion euros, in private investments.
Amount, which has no effect from any other or national investment tool ever implemented in Greece. 14 months that it “runs”. “Greece 2.0”, this mobilization actually happens. In terms of loans, we already have applications for investment projects, which exceed 9.5 billion euros, of which for over 2 billion Euro loan agreements have been signed and we are waiting for the rest 7.5 billion euros to be concluded within the next four months.
Yet 2 billion euros of investment projects have been announced, through various investment programs (including investment clawback, agri-food programs, household investments through Exkohoonomo), in the grants section. Some of them have already started (about a quarter of the amount) and the rest should start within the next three months. As for the mobilization of private investment, which is the biggest and most ambitious part of it “Greece 2.0”, we are ahead of schedule.
At the same time, public investments have accelerated in recent months. hundreds of public tenders to be launched, or to be launched, within the next four months as we prepare for the next payment request from the Recovery Fund. In addition, the reform program of the national plan is planned according to a timetable. This is front-loaded, as much of it already includes the former 14 months running it “Greece 2.0”and successful implementation is evident by the completion of all our relevant milestones.
A fact, which is also confirmed by European Commission, which has been very careful in examining the specific reforms, ensuring that they are meaningful and implemented not only in terms of the relevant laws, but also in terms of their operational success. We also intend to add new reforms during the revision of the national plan, which will be presented to the Commission and the Council in the coming months. en, the “Greece 2.0” is going well, but the road ahead is still full of difficulties.
The successful implementation of the hundreds of public tenders, in the grant sector, is not taken for granted. It will be a unique challenge for both the Greek bureaucracy and the private sector, due to the volume of projects to be done. We also need to maintain the momentum of private investment, which is linked to maintaining the momentum of our reform agenda, over the next four years, since as I believe we will renew our mandate, after the national elections, which will take place in the first half of the year . of 2023.
Only under these conditions, I believe, that these huge funds – more resources, per capita, than any other European country – that are available to Greece for investment and reforms, will achieve their ultimate goal, which is to make life better. for every citizen of our country. These are investments and reforms in the green and digital transformation, in the welfare state (health, education, welfare, training), in infrastructure projects, in private investments in all sectors of the economy.
Our ultimate goal is not only to achieve a strong economic recovery, but to enter a stable path of high growth and change the production model of the country to become more outward-looking, more competitive and greener and at the same time more resilient, for the benefit . of the entire Greek society. The challenge is historic, the opportunity unique and I firmly believe that we will succeed.”