18:26 / 30.11.2021.

Author: Nikola Badovinac

First instalment for Recovery and Resilience Plan arrives next month

Euros

Euros

Foto: Tomislav Miletic / Pixsell

An economic conference, attended by key cabinet ministers, was held in Zagreb on Tuesday to discuss the implementation of the government's Recovery and Resilience Plan. 

By investing money wisely, economists believe that Croatia could have one of the fastest growing economies in the European Union - especially if more is done to quickly boost digitalization and the transition to green business.


The first payment from the EU of some 800 million euros is expected over the next two to three weeks.


The Minister of Economy and Sustainable Development, Tomislav Ćorić, said part of the first wave of investments would be made in, among other things, modernizing and fixing the country's ageing water supply network, investing in renewable sources of energy, and improving the manufacturing industry by raising its competitiveness through energy efficiency.


Zvonimir Savić, Special Adviser to the Prime Minister for Economic Affairs, noted that Croatia has 24.5 billion euros at its disposal for investments from various EU sources over the next decade - including 6.3 billion euros from Recovery and Resilience Mechanism, plus a further 9.7 billion under the new EU's multi-annual financial framework from 2021 to 2027.


Savić also noted that Croatia has so far received seven billion euros more from the EU budged than what has been paid in.


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