Source: European Parliament 2
Europe must swiftly address huge challenges, in the face of a rapidly shifting geopolitical landscape and major fiscal policy changes. With an increasingly protectionist United States (US) on one side and China becoming an ever-more direct competitor across industries on the other, Europe’s economic future is fraught with uncertainty. In these testing times, the Next Generation EU (NGEU) recovery instrument, which has contributed to the EU economy’s swift rebound from the COVID-19 crisis, is expected to increase its impact on potential growth from 2025. The implementation of the strategic investment and reform plans financed by NGEU continues at varying intensity across the EU, with a number of measures being suggested to tackle possible risks of under-execution.