Surprise: Italy is the second EU country that is spending money faster. Most states are already a year behind schedule. WATCH THE VIDEO
While delays and problems related to the Pnrr are being discussed in Italy (SKY TG24 SPECIAL) most of the other European countries are not doing any better. According to the European Commission’s monitoring Scoreboard, most of the 27 countries have not even applied for the second installment payment. A goal that Italy – together with 6 other governments – already achieved last June.
According to the European regulation, the Member States must in fact achieve the goals and objectives set in their national plans every six months. If they succeed, upon request they can obtain reimbursement of expenses from the European Union.
Who didn’t get even one euro
Five European states have not collected a single euro of the European funds from the Recovery Fund. These are Poland, Hungary, Ireland, the Netherlands and Sweden. The first two saw their spending plans approved only in 2022, one year later than the European calendar. And the funds are still blocked due to disagreements with Brussels on compliance with the rules of the rule of law. While for Dublin, The Hague and Stockholm the available European funds represent an insignificant portion of GDP, and therefore probably have little interest in negotiating with Brussels. This is why it is now very probable that by 2026 they will not spend the money reserved for them.
The Germans are stuck in advance
13 percent of European funds are assigned as pre-financing to all countries that request it, without the need to demonstrate expenditure or reforms. Germany stopped at this step, which did not request other installments. At the same point are also Belgium, Estonia and Finland (which like the Germans presented a revised national Pnrr compared to the original), very late compared to the roadmap.
Most countries only asked for the first installment
As anticipated, as many as ten countries are stuck on the first installment requested. Among these, France also appears, as well as Denmark, Austria, Latvia, Bulgaria, Luxembourg, Cyprus, Malta, the Czech Republic and Slovenia.
Who of installments has asked for two
Further on we find Portugal, Greece, Croatia, Romania and Slovenia, which have asked for two installments. These are countries for which European funds represent considerable shares of their GDP, and which therefore have a strong interest in receiving money from Brussels. Greece, Romania and Croatia are the top three countries by weight of EU funds on GDP.
Italy and Spain the best
Paradoxically, Italy is the second country that is reaching the goals set by its Pnrr fastest. In fact, he requested three installments of the Recovery Fund, the last one last December, as established by the European calendar. A figure that, however, is only partially reassuring, given the significant accumulated delays that will be felt on the next deadlines of 2023 and 2024.
Further on is Spain, which has sent three payment requests but – unlike Italy – has also received the go-ahead from Brussels for the third installment of 6 billion euros.
Italy observed special
However, it must be said that the Italian case remains under close observation also due to the amount of funds. Italy has requested all of the 122.6 billion available loans, the only major country to make this choice (although Spain has announced that it has just applied in turn). This is why so far over 40 percent of the 150 billion euros distributed so far have ended up in Rome.