|Author (Person)||Mileusnic, Marin|
|Author (Corporate)||European Parliament: European Parliamentary Research Service|
|Series Title||EPRS Briefings|
|Series Details||PE 733.641|
|Publication Date||February 2023|
Romania's National Recovery and Resilience Plan (NRRP) embodies an ambitious agenda of reforms and investment aimed at mitigating the socio-economic effects of the COVID-19 crisis. The total cost of the plan amounts to €29.2 billion, or 13.1 % of the country's 2019 gross domestic product (GDP). This allocation, corresponding to 4 % of the total volume of the Recovery and Resilience Facility (RRF), includes the entire initial grant allocation (€14.2 billion) and a considerable part (€14.9 billion) of the available loan allocation. In June 2022, Romania's grant allocation was revised downwards by €2.1 billion to €12.1 billion (-14.9 %). The measures in the plan also aim to facilitate the country's green and digital transition, as well as focusing on youth by enhancing the education sector, another major objective of the NRRP with a 12.4 % share of the total RRF allocation. The plan is to be implemented by 2026.
Following the Council's positive assessment of the NRRP, Romania received €3.8 billion in pre-financing (13 % of the country's grant and loan allocation). Having received its first payment of €2.6 billion in October 2022, Romania submitted a second payment request of €2.8 billion to the European Commission in December 2022; its assessment is ongoing. On top of the RRF financial envelope, Romania will benefit from complementary funds from the Next Generation EU (NGEU) instrument, namely REACT-EU, with a maximum of €1.5 billion in 2021 and 2022, as well as the funds from the multiannual financial frameworks (previous and current). This will put roughly €100 billion at Romania's disposal by 2027. The European Parliament continues to guarantee transparency and provide accountability for EU citizens by engaging in interinstitutional dialogues on the implementation of the RRF and scrutinising the Commission's work. This briefing is one in a series covering all EU Member States. Second edition. The 'NGEU delivery' briefings are updated at key stages throughout the lifecycle of the plans.
|Subject Categories||Economic and Financial Affairs|
|Countries / Regions||Romania|
|International Organisations||European Union [EU]|