The Italian recovery and resilience plan: How to take advantage of an extraordinary opportunity

Abstract:

In the post-pandemic period, the success of NextGenerationEU (NGEU) is crucial for initiating a convergence and a gradual process of fiscal unification between member states of the European Union (EU). The likelihood of this success depends, above all, on Italy's ability to use the NGEU funds massively allocated to its credit (roughly 209 billion euro, of which around 82 billion is transfers and 127 billion is loans) to reverse the decline caused by a crystallized set of 'bottlenecks'.

The Recovery and Resilience Facility (RRF) program is endowed with more than 90% of the total NGEU funds. The construction of Italy’s National Recovery and Resilience Plan (NRRP), which conditions access to the RRF resources (about 196 billion euro for Italy), therefore plays a decisive role in determining the future of the EU and, in particular, Italy’s European destiny and the consequent prosperity of its future generations.

This paper highlights the five elements of the Italian Recovery and Resilience Plan that are essential to ensure its efficiency and effectiveness.

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