Romania stands to get 33 bln euro from EC's proposed recovery package

Romania stands to get 33 bln euro from EC's proposed recovery package

Romania stands to receive 33 billion euro ($36.3 billion) if the European Commission's proposed 750 billion euro recovery instrument - Next Generation EU, is adopted, data from the Commission shows. Romania's contribution to the package will be 12 billion euro, leaving the country with a positive net effect of 21 billion euro, or 9.4% of GDP, according to a Commission staff working document released on Wednesday. 

Among the four EU member states located in SEE, Romania comes third, after Croatia and Bulgaria, which could see a net income of 22.4% of GDP and 19.3% of GDP, respectively, if the proposal is adopted as it is. Fourth comes Slovenia, with a 2.4% of GDP allocation. 

"The recovery plan turns the immense challenge we face into an opportunity, not only by supporting the recovery but also by investing in our future: the European Green Deal and digitalization will boost jobs and growth, the resilience of our societies and the health of our environment. This is Europe's moment. Our willingness to act must live up to the challenges we are all facing. With Next Generation EU we are providing an ambitious answer," European Commission president Ursula von der Leyen said in a statement on Wednesday, unveiling the proposal. 

The money raised for Next Generation EU will be invested across three pillars: support to member states with investments and reform, a solvency support instrument to kick-starting the EU economy by incentivising private investments and a new health programme - EU4Health.

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