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The NKL plan was approved on July 26. at a remote meeting of the Council of the European Union and Financial Affairs (ECOFIN). Previously, the European Commission positively assessed this economic recovery and resilience plan in Lithuania.
This allows an advance of 289 million. EUR, or 13%. plan funds, paid late summer – early fall.
Previously in the country, there were many contradictions in the use of funds from the NKL plan: transparency problems arose in the Seimas, lack of focus on the regions, President Gitanas Nausėda did not pay more attention to regional exclusion, the non-governmental sector and private, more discussions with the social partners, criticism of the municipalities.
The New Generation Lithuania plan will mainly invest in green transformation, which represents 43%, digital transformation (31.5%), as well as in health, social security, science and innovation, education and public administration. The Finance Ministry emphasizes that the plan aims to implement the EC recommendations to Lithuania – to implement the necessary reforms.
Finance Minister Gintarė Skaistė emphasized that the plan will create the conditions for faster creation of high added value, the implementation of digital and green transformation, the creation of conditions for better education, health and social services.
It is expected that most of the funds of the plan will be used within three years: next year it is planned to allocate 435 million. EUR, 2023 – EUR 609 million, 2024 – EUR 624 million, 2025 – 293 million and in 2026 – 114 million. euros.
“Today, ECOFIN has finally approved our Economic Recovery and Resilience Facility (RRF) plan, which is called NKL, with 2,225 million euros planned. Investment of € 2026 by 2026 for economic recovery and resilience in Member States. In fact, this plan will solve structural problems in Lithuania, since the construction of the plan itself was such that it should cover the objectives of the green course, as well as digital transformations, and also respond to the recommendations of the Council of Europe countries. ,
Gintarė Skaistė
He stressed that the Lithuanian plan was 93.5 percent. responds to national recommendations, while in other countries the average is 65.8%, according to which Lithuania ranks first. The minister promises a structural breakthrough in solving problems that require a lot of money.
Following approval of the plan, a financing agreement with the EC will still need to be signed, which will address procedural issues related to the implementation of the plan, and an advance will be paid.
“As for the additional funds, they will be disbursed later reporting on the indicators provided in the plan,” said the minister.
Total 2021-2026 It is planned to allocate 2,225 million to Lithuania. EUR, which will arrive in the country in time after the implementation of the objectives set in the plan and the achievement of the indicators agreed with the EC in specific areas.
The Finance Ministry has estimated that more than 2 billion will be injected into the economy. GDP would grow an additional 1.7% per year, and one euro would generate an average return of 1.9 billion euros, for a total of 4.2 billion euros. euros.
“We have already started to implement individual reforms, which were envisaged in our NKL plan. If the commitments were certain reform actions, such as pay per single person, which was contemplated as a reform action in this plan, it has already been enacted and implemented, the concept of the Millennium School Progress Program has been developed and several actions have been implemented and a more efficient tax administration has been implemented ”, said G. Skaistė.
This year’s budget foresees 149 million. for the implementation of this plan: “The main actions planned for this year are the installation of 200MW energy storage facilities, as well as the implementation of the Millennium School Program and the development of digital innovation in education, as well as financing of the Innovation Fund for start-up acceleration programs “.
Prepare a halter for cryptocurrencies and cash.
The 2021 meeting was also presented at the ECOFIN meeting. July 20 A package of legislative proposals was announced to strengthen the EU’s anti-money laundering and terrorist financing (AML / CFT) system.
The EC proposes to strengthen the supervision of crypto asset providers in terms of money laundering and terrorist financing. At EU level, it is planned to limit cash payments to a maximum of € 10,000. euro limit. This is expected to curb illegal activities and combat unaccounted for income and the black economy.
“We support initiatives to strengthen the EU’s money laundering and terrorist financing prevention system. Proposals aimed at harmonizing the application of essential rules and regulations in the Member States, ensuring a uniform quality of application, are especially The establishment of an EU supervisory authority is one of the key themes of the package. We must ensure that the new institution has a sufficiently broad mandate and powers and covers the entire financial system. In the future, we would see an opportunity to expand the unified supervisory mechanism at the EU level to other sectors, not just the financial system, ”said G. Skaistė in the report.
According to her, the implementation after the approval of the regulation would be another three years, so there would be no real change in the near future.
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