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Key Aspects Regarding the Recovery and Resilience Facility: Priorities, Risks and Perspectives

Author

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  • Iulia Monica Oehler-Șincai

    (Department of International Economic Analysis Institute for World Economy)

Abstract

The main objective of this paper focuses on the analysis of the Recovery and Resilience Facility from the standpoint of general priorities and risks associated to less funds available for the Member States which are not able to accomplish some of their assumed milestones and targets. High shares of the total value of National Recovery and Resilience Plans are foreseen for the green and digital transitions. Health, education and social sectors, together with institutional development are also taken into account, however these are incomparably lower funded. In the literature are criticized, among others, the strings attached to the disbursements, neglect of social implications, uneven regional distribution, difficulty to implement judicial or pension reform. Changes of the initial plans have been possible, as several countries have already submitted substantially changed plans, in terms of amounts, and/or targets. The European Commission has endorsed them, based on justified "objective circumstances". In spite of all risks and weaknesses, the NRRPs prompt economic recovery and reforms in the EU Member States, in line with the EU’s goals and objectives.

Suggested Citation

  • Iulia Monica Oehler-Șincai, 2023. "Key Aspects Regarding the Recovery and Resilience Facility: Priorities, Risks and Perspectives," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 11(2), pages 63-67, December.
    • Handle: RePEc:ntu:ntugeo:vol11-iss2-63-67
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    References listed on IDEAS

    as
    1. Jean Pisani-Ferry, 2020. "European Union recovery funds- strings attached, but not tied up in knots," Bruegel Policy Contributions 38883, Bruegel.
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    More about this item

    Keywords

    National Recovery and Resilience Plans; NRRPs; Recovery and Resilience Facility; RRF; milestones and targets; REPowerEU; green transition; digital transformation;
    All these keywords.

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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