EU approves $48.2b for Greece’s economic recovery


Greece’s 30.5 billion euro economic recovery and resilience plan, Greece 2.0, has been formally approved by the European Union (EU). 

Greece is among 11 other EU countries that have been had agreements formalised with the EU for subsidised assistance to deal with their economic fallouts from the COVID-19 pandemic. 

“Now the hard work begins as we accelerate our plans [to] create jobs and growth in the sustainable, digital, and infrastructure space, leading to a brighter future for all our citizens,” Greek Prime Minister Kyriakos Mitsotakis wrote on his Twitter. 

Billions are set to pour into the fund as early as this month.

The EU is estimated to fund 30.5 billion euros (AU$48.26 billion) towards the plan to create jobs and boost economic growth. 

Greece’s fund from the EU is the highest per capita among all EU countries. 

The country is set to receive €4 billion (AU$6.32 billion) by the end of the month and €7.5 billion (AU$11.86 billion) before the end of the year.

Finance Minister Christos Staikouras called for the “optimal and speediest use of the funds from the recovery facility” following the announcement at the Economic and Financial Affairs Council (ECOFIN) meeting in Brussels. 

“Today is an important day for Greece and Europe,” he said. 

Alternate Finance Minister Theodoros Skylakakis said the Greece 2.0 model aims to put the country onto a steady course of growth and foster a more open, more competitive, more resilient, and greener productive model. 

Source: Ekathimerini 




By subscribing you accept our Terms of Service and Privacy Policy.


Latest News

2035: The end of the Greek community of Australia as we know it (Part Two)

In our previous article we referred to the important year 2035, a milestone for the presence and evolution of Hellenism in Australia.

‘Poor Things’ costumes exhibition opens at Benaki Museum in Greece

Costumes from Giorgos Lanthimos' film "Poor Things" are featured in an exhibition inaugurated by Greek President Katerina Sakellaropoulou.

Meet Joanna Kalafatis: New Greek star of hit Netflix series ‘Maestro in Blue’

Joanna Kalafatis is a beautiful Greek woman with voluminous hair. However, as the saying goes, there’s a lot more than meets the eye.

Archaeologists in Crete mystified by 4000-year-old discovery

A recently discovered 4,000-year-old stone building in Crete is puzzling archaeologists and potentially delaying an airport project.

Greece ranks third among Mediterranean cruise destinations

Data from the Hellenic Ports Association (ELIME) show that Greek ports handled 7,003,150 passengers in 2023, up from 4,629,650 in 2022.

You May Also Like

Olympic gold medalist Sofia Bekatorou claims she was sexually assaulted by official

The Olympic sailing champion has accused an unnamed sporting official of sexually assaulting her during preparations for the Sydney Games.

Greece’s 71 wildfires sound alarm for troubled fire season

Greek authorities nationwide remain vigilant following the outbreak of 71 wildfires reported within a mere 12-hour period on Saturday.

Logos, Issue 36, passes the baton to the younger generation of writers

The 36th issues of the periodical Logos was officially launched by the Hellenic Writers Association of Australia (HWAA) over the weekend.