Public Investment Programme budget at 12.2 billion euros in 2024

Greece’s Public Investment Programme was fully absorbed in 2023 totaling 11.2 billion euros, as the budget was raised by 800 million euros, National Economy and Finance Alternate Minister Nikos Papathanasis said on Monday.

Speaking to reporters, during a press conference, Papathanasis said the Public Investment Programme will reach 12.2 billion euros in 2024, up 12% from the previous year, and will be the biggest in the last 24 years.

The programme for natural disasters will total 1.63 billion euros, with projects included in the programme currently at 93%, with an absorption rate at 41.85%. The Greek minister noted that the ministry will unveil a new legislation on the Public Investment Programme in the first quarter of 2024.

The Greek regional programme 2014-2020 currently amounts to 19 billion euros, with total spending rising at 20.9 billion euros. Sectoral programme execution is currently at 97% of funds and it is expected to rise to 108%, with public spending of 8.3 billion euros. Infrastructure programme execution is currently at 93% and it is expected to exceed 100% at 4.6 billion euros. Human resources programme execution is currently at 98% and it is expected to reach 110% at 3.3 billion euros. Public sector programme execution is currently at 99% and is expected to reach 100% with a spending of 620 million euros. Fishery programme spending is at 496 million euros.

The Greek programme with the Recovery and Resilience Fund totals 36 billion euros (18.2 billion in grants and 17.7 billion in loans). Final payments are 2.1 billion euros. Papathanasis said the government will apply for additional disbursements in two tranches, April and September.