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

Briefing 21-01-2022

Latvia's National Recovery and Resilience Plan (NRRP) sets the package of reforms and investment measures designed by the country in the context of the European Union (EU) response to the crisis triggered by the coronavirus pandemic. In absolute figures, Latvia has decided to use €1 826 millions of grant allocation under the Recovery and Resilience Facility (RRF), while declining to avail of the loan component. These resources represent 0.3 % of the entire RRF, equal to 6 % of the country's gross domestic product (GDP) in 2019 (the RRF being 5.2 % of EU 27 GDP in 2019). Through these resources, Latvia is naturally pursuing national reforms and investments that aim to further promote a dynamic Latvian economy, while addressing a number of structural weaknesses. Latvia is also striving to attain major objectives such as convergence towards higher levels of standard of living, the green transition and digital transformation. Measures under the current plan are to be completed by 2026. Following the Council's approval of the plan, Latvia received €237 million in pre-financing in September 2021. The next payments, in a total of six instalments, will depend on progress in implementation. The European Parliament, which was a major advocate for the creation of a common EU recovery instrument, participates in interinstitutional fora for cooperation and discussion on its implementation and scrutinises the work of the European Commission. This briefing is one in a series covering all EU Member States. First edition. The 'NGEU delivery' briefings are updated at key stages throughout the lifecycle of the plans.