ZOE_Institute_economic-resilience-era-RRF_media brief

Microsoft Word - ZOE_Institute_economic-resilience-era-RRF_media brief Media briefing, 15.02.2024 Building back better? Assessing the EU’s economic resilience post-Covid The economic resilience of the EU was stable in the last years – despite economic shocks in the form of the pandemic, the Russian invasion of Ukraine and the energy crisis Latvia and Italy were able to increase economic resili. [...] 1 2 The era of the RRF In 2020, in response to the Covid-19 pandemic and its economic fall-out, the EU agreed a first-of-its kind financial instrument explicitly aimed at bolstering economic resilience. [...] The analysis shows that the impact of the RRF funding on economic resilience hinges on the quality of the planned reforms and investments, not only on the amount of funding per capita. [...] 4 Implications On the third anniversary of the entry into force of the Recovery and Resilience Facility, EU governments need to look beyond 2026 and make sure a follow-up instrument for enhancing long- term economic resilience is in place. [...] Now the EU needs to think beyond 2026 and make sure continued funding for economic resilience is in place for all Member States.” The European Commission’s own mid-term assessment of the impact of the Recovery & Resilience Facility is expected to be published later this month.