Filenews 15 May 2021 - by Eleftheria Paizanou
The green light was given yesterday by the Council of Ministers to the final National Recovery Plan, which will be sent to Brussels on Monday for final approval by the Commission. Cyprus can raise €968m from the European fund, but €1.2bn of projects have been included in the national plan (along with State resources).
On Monday, The President of the Republic Nikos Anastasiades is expected to present at a press conference the axes of the Plan and the reforms that will have to be implemented in order for the country to disburse the money from the European Union. A competent government source told "F" that during the consultations of the Cypriot authorities with the European Commission, Commission officials had already conveyed their satisfaction with the final plan of Cyprus. As we have been told, European officials have told the Cypriot side that this is an ambitious and realistic project, which when implemented will bring a benefit to both the country and its citizens.
By the end of next week, Finance Minister Konstantinos Petridis is expected to give additional details of the actions and actions the country should take.
The National Recovery Plan is divided into five axes, namely public health and civil protection, the green economy, strengthening the resilience of the competitiveness of the economy, the digital economy and the labour market. Of the total money, 37.6% or €469 million will go to the green transition and economy sector. 35.8% of the money or €445.7m strengthening the resilience and competitiveness of the economy. A sum of €168.5 million, corresponding to 13.5% of the money, will be allocated to employment, education and human resources. In addition, €95.5m (€95.5m) was used to fund the project. will be invested to transition to the digital economy and funds of €78.5 million. are planned to enhance public health and meet the needs of the Covid-19 pandemic.
The three major reforms are a prerequisite
In order to receive the money from the EU, the Republic of Cyprus will have to implement major reforms by 2023, as well as 60 projects by 2026. It is about reforming local government, the public service and, in particular, how civil servants are assessed and promoted and justice reform. In fact, the three specific reforms are one of the first bills that the government will ask the new Parliament to forward to the plenary. In addition, the Investment Law should be approved by the Parliament, the Companies Act should be modernised, the Tax Office should complete the digitisation of the Registrar of Companies, measures should be taken to combat corruption, the opening up of the electricity market, actions on renewable energy sources and the reform of the water resources system implemented.
