There are 15 countries behind Portugal in complying with the RRP
So far, Portugal has achieved 40% of the targets it set itself under the PRR, which is in line with the European average. 15 countries have achieved a lower percentage of their targets.
The implementation of Recovery and Resilience Plans (RRP) is falling short of “desired levels” in the vast majority of European countries, with 15 states having achieved a lower percentage of their targets than Portugal, which has achieved 40%, according to an analysis by BPI Research. On the other hand, there are 11 countries that outperform Portugal.
The analysis released last Friday points out that the €22.2 billion of the Portuguese PRR corresponds to 8.3% of Gross Domestic Product (GDP), a percentage higher than most countries, with Greece being the country with the highest value as a percentage of GDP, followed by Croatia and Spain.
In terms of amounts already delivered to the respective countries, “Portugal is slightly above average (55%), with 57% of the agreed amount already delivered”. According to the BPI Research note, France leads the ranking with 85% of the approved amount.
However, of the amount already received by Portugal, only 39% has actually been delivered to the final beneficiaries. “It is expected that delivery will begin to pick up pace as we approach the end of the implementation period”, the analysis states.
So far, Portugal has achieved 40% of the targets it set itself under the PRR, i.e. 111 investments and 66 reforms out of a total of 438 targets. “This puts Portugal in the EU average. France is the country that has achieved the most objectives (82%), followed by Denmark (60% compliance)”, highlights the BPI Research note.
BPI analysts conclude that “the implementation of projects (measured by the achievement of objectives) is below the desired level for the vast majority of EU countries, with 15 countries having a lower percentage of objectives achieved than Portugal”.
“The most worrying case is Hungary, which has not yet achieved any of the objectives it set itself”, the note points out.
In August, Portugal received €1.34 billion relating to the sixth payment request (approved by the European Commission in June) from the PRR. To receive €851 million in grants and €485 million in loans, Portugal had to meet 32 milestones and targets out of a total of 438 in the updated PRR with the reprogramming.
Meanwhile, Portugal has already submitted its seventh PRR payment request, which is based on the completion of 21 investments and five reforms associated with structural areas such as health, housing, social responses, capitalisation and business innovation, qualifications and skills, infrastructure, forests, hydrogen and renewables, the sea, energy independence and ecological transition, quality and sustainability of public finances, more efficient public administration and digital schools.
