Our country has the least indirect benefits to the EU than TAA

Although the Reconstruction and Rules of Recovery (TAA) has been the main driving force of Greece’s economic growth in recent years, its indirect effects are minimal, and even the lower EU as a percentage of GDP.

Specifically, as shown in a relevant study by the Commission, the secondary result of TAA in Greece amounted to just € 800 million, corresponding to about 0.4% of GDP. On the top of the list, Slovakia is at the top of the list, with a secondary effect of about 1.8% of its GDP, while Germany has the highest indirect benefit of the Fund to a nominal value of € 42.6 billion.

Indirect benefits from the Fund are calculated the resources that end up in the country by actions and investments of the national plans of other EU countries.

For example, a project that is part of the Greek Plan of Recovery and Resilience « Greece 2.0 », with a total budget of EUR 200 million, has a direct impact on our country’s GDP due to its contribution to increased production. However, if the investment is being implemented in Greece by a German company, then Germany is indirectly benefited from the project, and not in German territory.

In our country, the TAA’s impact is so far at € 30.6 billion (28.8 billion direct impact and 0.8 billion indirect), while disbursements are estimated at about 22.4 billion euros: 9.94 billion from subsidies and 11.4 billion from loans.

In total, Greece is € 36.6 billion from TAA resources, making the fifth largest portfolio behind Italy (194.4 billion euros), Spain (€ 163 billion), Poland (59.8 billion euros) and France (€ 40.3 billion).

Most of the TAA resources for Greece (EUR 8.3 billion) has been disbursed for the sustainable development of businesses, followed by the green transition (4.6 billion), digital transition (2.8 billion), health (2 billion), social cohesion (1.65 billion) and the reinforcement of the new generation (0.1 billion).

According to the Commission’s relevant report, Germany is emerging as the third most won country in terms of TAA’s total bid to the economy. Although Germany’s national recovery and resilience plan has a total value of € 32.3 billion, the indirect benefits are significantly higher, with the fund’s overall bid to the country’s GDP already € 66.1 billion.

In fact, the indirect benefit of Germany comes over 50%from two countries: Spain (25.7%) and Italy (24.6%). Significant benefits also receive through Poland (12.6%), France (6.5%) and Romania (5.5%).