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MNI BRIEF: Brussels Cuts Growth Impact Of RRF

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The EU Commission will scale back the likely impact of its Recovery and Resilience Plan on medium-term economic growth in the bloc compared with early estimates, Economy Commissioner Paolo Gentolini said Wednesday.

In its mid-term review of the post-Covid recovery plan, the EC will say that EU-wide GDP will be boosted by 1.4 percentage point by 2026 and unemployment reduced by 0.8pp, the final year of the plan. Gentiloni said that these estimates did not include the likely growth stimulus from the many reforms states have implemented under the programme.

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The EU Commission will scale back the likely impact of its Recovery and Resilience Plan on medium-term economic growth in the bloc compared with early estimates, Economy Commissioner Paolo Gentolini said Wednesday.

In its mid-term review of the post-Covid recovery plan, the EC will say that EU-wide GDP will be boosted by 1.4 percentage point by 2026 and unemployment reduced by 0.8pp, the final year of the plan. Gentiloni said that these estimates did not include the likely growth stimulus from the many reforms states have implemented under the programme.

Keep reading...Show less