The European Commission concluded the assessment of Italy's National Recovery and Resilience Plan with a positive outcome on Tuesday.
The European Commission concluded the assessment of Italy's National Recovery and Resilience Plan with a positive outcome on Tuesday. In recent weeks, the Italian Government and the Commission had worked intensively to examine the content of the Plan presented by Italy, assess its consistency with the criteria set out in EU Regulation 2021/241 and translate it into legally binding acts. The Commission adopted the Proposal for a Council Decision, the attached Operational Documents – such as the financial agreement and the list of funded interventions, accompanied by targets and milestones –and an analysis of the characteristics and expected effects of the Plan.
The technical services of the Commission recommended to the Council the approval of the entire amount requested by Italy, equal to 191.5 billion euros, of which around 68.9 billion in grants and around 122.6 billion in loans. The “Italia Domani” Plan is organized into 16 components and structured into 6 areas of intervention ("Missions"). It was deemed to be fully compliant with the regulatory requirements and fully centred on the three horizontal priorities (digitalization and innovation, ecological transition and social inclusion).
The measures were considered consistent with the challenges and priorities identified in the Country Specific Recommendations by the European Commission. The measures were also deemed able to improve productivity, competitiveness, sustainability and resilience of the Italian economy, creating new jobs, supporting economic growth and reducing territorial, social, generational and gender gaps. The Commission highlighted that the Plan is able to develop the country's potential, through reforms and investments focused on growth, both in the medium and long term, and improve labor market conditions, especially for young people and women.
In addition, the large number of reforms included in the Plan, in each key policy area, addresses all of the main factors impeding growth: reforms in education and research have the potential to support the development of human capital; reforms in sectors such as transport will lead to an increase in efficiency. Finally, reforms in the functioning of the public administration and the judicial system will produce structural changes capable of improving the effectiveness of administrative action and, ultimately, creating a favourable environment for the economy.
The measures included in the plan were positively evaluated with respect to environmental sustainability. All investments and reforms respect the "do not significant harm principle" and around 37% of the plan's resources are earmarked for interventions capable of ensuring ecological transition. In addition, a substantial proportion of the measures will contribute to Italy's digital transformation (around a quarter of the plan's resources).
On the whole, the plan is approved with a more than positive judgment, also in relation to the capacity of the designed governance system to ensure the effective implementation and ongoing monitoring of the interventions provided for by the Plan.