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Greek PM unveils post-pandemic recovery plan, with EU money

Greek PM unveils post-pandemic recovery plan, with EU money

Greek Prime Minister Kyriakos Mitsotakis unveiled the National Recovery Plan after the coronavirus pandemic this morning.

Mitsotakis said the plan, called Greece 2.0, consists of 170 projects, investments and reforms. It will mobilize 57 billion euros, which is expected to increase to 7 percentage points of GDP over a period of 6 years, and is expected to create about 200 thousand jobs.

The plan aims to bring about a shift around a more external economy and a tax system that triggers economic growth.

Most of the budget will be spent through the state subsidy program "Exoikonomo", modernization of education and vocational training, digital transformation of the state and private investment.

Highway construction has been left out of the plan, with the exception of the highway in northern Crete and the E65 motorway in central Greece.

The plan, which was approved by the cabinet on Monday, will be discussed in Parliament and is expected to be presented to the European Commission by mid-April.

Greece's national plan will be funded by the European Union with a 750 billion-euro recovery fund to be borrowed and repaid by the entire 27-nation bloc.

Kathimerini / Tiranapost.al