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在线翻译:
szdaily -> World Economy -> 
Some EU nations to miss April deadline for recovery plans
    2021-04-19  08:53    Shenzhen Daily

SOME European Union governments will miss the April 30 deadline to submit their recovery plans to the European Commission, its Vice President Valdis Dombrovskis has said, but they are still likely to submit the plans within a few weeks afterwards.

The delay in the submission of some of the national plans, which spell out how each government wants to spend its share of the EU’s 750 billion euro (US$900 billion) joint borrowing scheme, will not delay the scheme as a whole, Dombrovskis told a news conference.

“Some member states are nearly there and submitting their plans by the end of April is achievable. For others, it looks more difficult. Finalization will require somewhat more work for a couple of more weeks,” Dombrovskis said.

The 27 national plans are blueprints for spending grants and loans that each EU country will get from the unprecedented joint borrowing by the European Commission to rebuild economies greener and more digital after the pandemic.

To get the money, each country has to earmark 37 percent of the funds to reduce CO2 emissions and 20 percent to make the economy better prepared for the digital age through investment and reforms that will get piecemeal financing from the EU until 2026.

It is the long time horizon of the investments and reforms, as well as the need to allocate the prescribed percentage of the cash to certain areas, that is challenging for governments.

“For a vast majority of member states, plans are in very advanced stages and are going to be submitted either by end of April or maybe a in a next couple of weeks after the end of April,” he said.

This is likely to take longer than the preparation of the spending plans — so far up to 17 countries have ratified the increased guarantees and others were expected to do so soon. (SD-Agencies)

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