Portugal Secures Positive EU Assessment for €2.9 Billion Recovery Plan Payment, Aiming for 40% Execution in 2024
Jornaleconomico.sapo.pt3 weeks ago
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Portugal Secures Positive EU Assessment for €2.9 Billion Recovery Plan Payment, Aiming for 40% Execution in 2024

Economy
portugal
eu
recoveryplan
economy
investment
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Summary:

  • European Commission confirms positive evaluation of Portugal's €2.9 billion payment request.

  • Portugal aims to achieve 40% execution of PRR goals by 2024.

  • Largest payment to date: €1.65 billion in grants and €1.25 billion in loans.

  • Investments focus on housing, sustainable transport, and digitalization.

  • Portugal submitted its sixth request 45 days early, ensuring timely execution.

Portugal's Positive Evaluation from the European Commission

The European Commission has confirmed a positive assessment of Portugal's fifth payment request under the Recovery and Resilience Plan (PRR), amounting to €2.9 billion. The government is poised to meet its target of executing 40% of the PRR milestones and goals by 2024.

Key Financial Details

According to the report from the Office of the Minister for Territorial Cohesion, this payment request is the largest to date, comprising €1.65 billion in grants and €1.25 billion in loans. This reflects the achievement of 15 targets and 27 milestones associated with critical reforms in areas such as energy efficiency, waste management, tax simplification, and the capital market.

Significant Investments for the Future

The request also encompasses substantial investments in essential sectors for the country's future, including:

  • Housing
  • Sustainable public transport
  • Business capitalization
  • Digitalization
  • Modernization of the tax and customs systems
  • Fire prevention

Timely Submission

Portugal became the second country to submit its sixth payment request, 45 days ahead of the deadline. This proactive approach, taken on November 15, positions Portugal to achieve its 40% execution goal by utilizing the remaining 1.4% in the last days of November and throughout December, as highlighted by the government.

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