Greece comes in 6th in the absorption of NSRF funds, out of the 28 EU member states, according to European Commission data (https://cohesiondata.ec.europa.eu/overview), the Development & Investments Ministry said on Thursday.
In 2020, absorption by Greece reached 62 percent (in terms of EU contributions), with the total of expenditures reaching 11.6 billion euros. The same year, the country took advantage of the flexibility provided by the EU’s temporary framework to manage health, economic, and social repercussions of the coronavirus pandemic, activating co-finance funds totaling 6.5 billion euros.
“The high absorption rates are also reflected in the increased requests for payments, to the European Commission,” the ministry noted. “Cumulatively for 2020, requests were submitted totaling 4.3 billion euros, of which 3.6 billion flowed into Greece’s public revenues. It should be noted that this is the highest amount of annual requests since the start of NSFR 2014-2020,” it added.
In terms of the Public Investment Program (PIP) for 2020, its execution rate was 100%, while its limit increased successively within the year to reach 10.6 billion euros – the highest limit of the last two decades – to cover the increased funding needs.
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