Greece is the world champion in backing its economy as part of the EU’s next-generation funding resource inflow, ING said in a new report.
Aside from the various support measures taken by the Greek government and the resources allocated for the flow of the Greek economy from Brussels, the Dutch multinational company calculates that the Greek government is the total package to deal with its consequences. Infectious. 32.1% of GDP. The country’s GDP – the highest in the world, is higher than in the United States.
In response to Govt-19, ING examined the additional financial spending provided or pledged by countries, bringing the United States to 25.5% of GDP. This includes an approved U.S. recovery plan proposal, but President Joe Biden’s new plans have not yet been approved by Congress. For the eurozone, the rate reaches 12.4% after adding the recovery and recession facility to the national budget against epidemics. In fact, this percentage may be exaggerated because some projects are planned at the national and European levels and may be doubled.
Italy ranks third in the world after Greece and the United States with 21.9% of GDP.
ING confirms that the positive impact on the Greek economy is likely to be minimal as part of the Greek plan for NGEU loans aimed at partially financing private investment. It also illustrates that the already acknowledged support from the United States is having a greater impact than the Italian and Greek plans.
The Dutch company consistently claims that the Greek project is as consistent as Portugal’s project because it has a number of projects in addition to the green and digital transitions. The report notes that Greece is placing more emphasis on human resource-related investments, as the key sectors that the country is lagging behind in the global financial crisis are skills and employment.
Overall, the ING states that while NGOs aim to help EU countries recover from the crisis, the demand for these resources remains low.
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