Croatia rolls out COVID-19 recovery plan

World

Image by Myvector / Shutterstock.com

Croatian Prime Minister Andrej Plenković called for "the broadest possible consensus" on his government's National Recovery and Resilience Plan, a document including projects worth more than HRK 49 billion (EUR 6.5 billion) in total, according to a report by Total Croatia.

Plenković on Wednesday presented the government's draft National Recovery and Resilience Plan for 2021-2026 to Parliament, saying that it should help the country overcome the current crisis and turn challenges into opportunities. Its drafting and submission to the European Commission is a precondition for obtaining funds from the European Recovery and Resilience Facility (RRF) for the 2021 to 2023 period. Croatia will have to implement reforms and invest almost 40% of the EU funds in green transition and 20% in digital transformation.

"This is not helicopter money that would be simply given to the companies. It's not the purpose of the plan,' Plenković was quoted as saying.

The term "helicopter money" refers to a large sum of new money that is printed and distributed among the public to stimulate the economy. The COVID-19 crisis has cost Croatia HRK 32 billion, which equals 8.7% of gross domestic product (GDP), according to Plenković.

HUPX Joining Serbian, Slovenian Peers in Adex Power

HUPX Joining Serbian, Slovenian Peers in Adex

Magyar Drops Audio Suggesting Gov't Meddling in Corruption C... Government

Magyar Drops Audio Suggesting Gov't Meddling in Corruption C...

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.