17. 5. 2021 8:21

The National Reform Program 2021 was approved by the Czech Government

On 17 May the Government adopted the National Reform Program of the Czech Republic 2021 (NRP). During the session the Government endorsed the National Recovery and Resilience Plan (RRP) as well. The NRP is prepared annually within the so-called European Semester, ie the mechanism of coordination of economic policies in the EU. The RRP is a new document. Based on the RRP, the Czech Republic may benefit from the newly established Recovery and Resilience Facility with grants amounting EUR 7 billion for economic recovery after the COVID-19 pandemic and green and digital transition.

The European Semester was launched in 2010 and its main objective is to contribute to stability and convergence in the EU and to sound public finances. This year's European Semester was adapted to launch the implementation of the new Recovery and Resilience Facility.

NRP 2021 describes the reforms and investments that the Government plans to implement in the next 12 months, and also provides a broader context for Czech RRP. The RRP describes in detail how approximately EUR 7 billion will be invested from 2021 to 2026. These funds will be used not only to restore the economy after the COVID-19 pandemic, but also to fundamentally modernize the Czech economy in response to climate change and digitization.

As in previous years, the preparation of NRP 2021 was inclusive. with the involvement of The economic and social partners, representatives of the Czech Parliament, regions and municipalities and other relevant stakeholders were involved. They had the opportunity to, inter alia, participate in an online round table discussion or comment on the draft NRP during the inter-ministerial comment procedure. Shortly after the Government's approval, NRP 2021 was sent to the European Commission for information.

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