Croatia rolls out COVID-19 recovery plan

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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.

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