Italy's National Recovery and Resilience Plan: Latest state of play

Briefing 03-04-2024

In absolute figures, Italy's national recovery and resilience plan (NRRP) is the largest national plan under the ground-breaking Next Generation EU (NGEU) instrument. In December 2023, a revision brought about various changes to the plan: it is now endowed with EU resources worth €194.4 billion in grants and loans, representing 26.1 % of the Recovery and Resilience Facility (RRF), or 10.8 % of the country's gross domestic product (GDP) in 2019 (the RRF being 5.2 % of EU 27 GDP in 2019). A slight upward revision of Italy's grant allocation in June 2022 and the inclusion of a new energy-focused REPowerEU chapter resulted in a €2.9 billion increase on the initial plan. In addition, Italy has earmarked national resources worth €30.6 billion to strengthen a vast programme of reforms and investment designed to promote Italy's economic recovery, while addressing a number of structural weaknesses and pursuing major objectives such as the green transition and digital transformation. Measures under the plan are to be completed by 2026. Italy has so far received 52.7 % of the resources (€102.5 billion in pre-financing and four payments for both grants and loans); this is well above the EU average (34.5 %). Another six payments each for grants and loans will depend on further progress in implementation. At the end of 2023, Italy had spent €43 billion or 22 % of the EU resources available for its NRRP, which suggests the importance of the period through to August 2026 for full implementation, not least of its investment measures. A major advocate of creating a common EU recovery instrument, the European Parliament participates in interinstitutional forums for cooperation and discussion on its implementation and scrutinises the European Commission's work. This briefing is one in a series covering all EU Member States. Sixth edition. The 'NGEU delivery' briefings are updated at key stages throughout the lifecycle of the plans.