May 08, 2021

PM Mitsotakis: National Recovery Plan to add €60 billion to Greek economy

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The National Recovery Plan has the potential to add another 7 points to GDP over a six-year period beyond the normal growth of the Greek economy and to create an additional 200,000 jobs, said Prime Minister Kyriakos Mitsotakis during his introductory speech on Monday’s cabinet meeting.

As he stressed, “the actions laid out in the plan are 160 and are tied to specific projects, concerning investments, reforms, and cover very specific time schedules, while they are spread across Greece”.

“It’s a gigantic program that has the potential to mobilise almost €60 billion, €32 billion is guaranteed via the Recovery Fund, 19 billion in grants and the rest in lending, adding leverage from the private sector to shareholder equity, we estimate that total resources amounting to 57 billion euros can be mobilised”, noted Mr. Mitsotakis, clarifying that “it has 4 main pillars; the digital transition of state and business, the increase of employment, the enhancement of health, education, social cohesion, the green economy and the boom in investment”.