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The prerequisites for the EU 968 million

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The prerequisites for the EU 968 million

The Parliament's reef will have to go through important reforms that are considered necessary for Cyprus to raise funds of almost one billion from the European Union Recovery Fund. In Cyprus, the Recovery Fund allocates € 968 million, however the preliminary draft of the Cypriot proposals includes projects and expenditures totaling € 1.2 billion (including the state contribution). In order to raise some of these funds, the state will have to implement specific reforms, for which it will make commitments through the final national plan for the Recovery Fund.

In the first phase of the distribution, in Cyprus there are € 764 million (70% in 2021 and 2022) and in the second phase € 204 million (30%, until 2023). According to the draft of the national Recovery Plan, which was revealed yesterday by “F”, a total of 12 legislations will have to be presented to the parliamentary body and approved, in order for the country to get the liquid. In fact, as it seems, for the majority of the legislative measures that will be submitted by the government, the new members of the Parliament will be called to make decisions, who will be elected in the parliamentary elections of May 30th.

SEE ALSO: This is how they will distribute the € 1.2 billion from the Recovery Fund

The government, in an effort to avoid ex-post disagreements with the opposition parties, is fully informing them at this stage of all the actions it needs to take, which are essentially considered a prerequisite for utilizing European funds. The legislative regulations that will have to be approved by the Parliament, concern the axes of strengthening the resilience of the economy, the green economy, the labor market, education and human capital, as well as the axis for the transition to the digital economy.

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Source: www.philenews.com

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