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Portugal expects recovery plan in second half of the year

Portuguese Foreign Minister Augusto Santos Silva said on Tuesday he expected Portugal’s Recovery and Resilience Plan (PRR) to be up and running in the second half of the year. The Portuguese EU Council presidency intends to reduce the deadlines for analysis and approval of these plans, both by the European Commission and the Council, to complete the process in July. Once all the national plans have been submitted, a milestone which has been given the deadline of 30 April, the Commission has two months to approve them. After that it will be up to the 27 ministers of economy and finance to analyse all the documentation within a month, which would drag the release of funds to support Europe’s economic recovery out until at least August.

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