ocp192_en

Recommendations

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Memorandum of Understanding on Specific Economic Policy Conditionality8. Increasing the impact of European funding8.1. European Structural and Investment Funds (ESI)In order to improve use and absorption of ESI funds:1. The Government meets targets for payment claims in the absorption of EU Structural,Cohesion and EAFRD Funds set down in the table below. Compliance with the targets shall bemeasured by certified data (continuous).EUR million(cumulative)Targets for payment claims in the absorptionof Structural and Cohesion Funds and EAFRD(programming period 2007-2013) to besubmitted in 2014European Regional Development Fund(ERDF) and Cohesion Fund (CF)June2014December2014720,00 2.170,00European Social Fund (ESF) 280,00 830,00European Agricultural Fund for RuralDevelopment (EAFRD)220,00 669,002. In deciding the "Public Investment Budget" allocation, the Government ensures that only thestrict necessary national contribution remains available in order to ensure the full completionof all on-going projects including non-eligible expenditure under the Structural Funds andCohesion Fund rules in the framework of the 2007-2013 programming period, in particular forexpropriations (continuous).3. The Government submits complete applications for all remaining major projects for which noCommission decision under Article 41 of Regulation (EC) No 1083/2006 has been adoptedyet. It ensures a balanced submission of the major project modifications requests and providesto the EC a time schedule accordingly (April 2014).4. In order to achieve 100% absorption of the ERDF and Cohesion funds, not to significantlyburden the national budget with projects that cannot benefit from the EU funds andconsidering that no project will be transferred to 2014-20 period until the adoption of thePartnership Agreement and the submission of the Operational programmes, the Governmentwill manage the overbooking of the NSRF 2007-13 as follows:i. Eliminates the sleeping approved projects and reduces the sleeping contracts (contractswhich do not progress and are not expected to progress within 2007-13 period) on a caseby case basis, except the priority projects, and reports to the Commission (May 2014).ii. Calculates programme by programme the overbooking. To do so it will: Adjust thebudget of the approved projects taking into account the actual value of contracts; adjustallocations of granted state aid schemes to enterprises taking into account the expectedrate or realisation of investments; estimate the expected reduction of the budget allocatedto financial engineering instruments based on real absorption. The authorities will submitthe result of this exercise to the EC (May 2014).iii. Until this process is completed, the Government commits not to approve any new projectsand not to sign contracts unless in exceptional cases to be agreed with the EC in the lightof the priorities of the new programming period.5. In parallel and with the objective of preserving the key approved projects in the pipeline, theGovernment submits to the Commission a list of potential projects to be phased in the 2014-20214
Memorandum of Understanding on Specific Economic Policy Conditionalityperiod consistently with the priorities set in the Partnership Agreement and the draftOperational programmes (June 2014).6. The Government takes measures to ensure completion of 23 priority projects by end 2014 andof the remaining 105 priority projects by end 2015 (continuous).7. With the view to ensure smooth financial flow to beneficiaries and enable payments of EU cofundedprojects, the Government:i. Adopts the secondary legislation for the implementation of the alternative to the functionof "ypologos" procedure for the EU co-funded projects (May 2014).ii. Renders operational the electronic payment (April 2014), with a view to have 50% of thepayments effectuated electronically by September 2014 and 100% by December 2014.iii. Examines and presents to the Commission a proposal for a new simplified financialcircuit for payments of co-funded projects including the creation of a single budget lineper operational program in the PIB with the objective to implement it in the 2014-20period (July 2014).8. In view of the programming period 2014-2020, the Government shall ensure that theOperational Programmes will be designed to promote competitiveness, growth and jobs and insuch a way to complement and to support, where possible, the structural reforms that aretaking place through the economic adjustment programme. The Government will:i. Complete the simplification initiative by reviewing the "implementation trail" and themapping of competences of the involved entities, permits and deadlines needed for theimplementation of the main categories of projects supported by the Structural Funds andthe Cohesion fund (e.g. transport, waste management, social infrastructure,entrepreneurship, ICT). When from the above mentioned mapping it appears necessary,the Greek authorities, by legislative or administrative provisions, abolish the unnecessarysteps, set reasonable deadlines for the completion of each step and clarify responsibilities("who is doing what"). (Deadline: Before the adoption by the Commission of theoperational programmes).ii. Proceed -assisted by TFGR- with an assessment of the principal beneficiaries, in terms ofadministrative, financial and operational capacity in order to ensure an efficient andtimely delivery of the co-financed projects. To that end:a. Terms of reference related to this assessment are prepared in consultationwith Commission services (April 2014).b. Findings, results including operational recommendations of thisassignment are delivered (July 2014).c. Measures and reforms are endorsed (October 2014).iii. Extend the inter-services consultation system to cover the whole cycle from maturation tofinal completion of EU co-funded projects (environmental licenses, archaeologicalpermits, etc), supported by the necessary electronic system with all public entitiesadequately equipped in the context of e-government (September 2014).iv. Set up a state aid mechanism for the EU co-financing of SMEs in 2014-2020, to ensure (i)the transparency of the awarding, (ii) the targeting, the efficiency and effectiveness of thestate aid, and (iii) the fraud prevention, throughout the whole life cycle of the state aidscheme, from the call for proposals until the final payment to the SME. This mechanismshould be supported by the appropriate electronic tools (September 2014).9. The Government will report to the Commission monthly on the progress of the FinancialEngineering Instruments. Where appropriate, it will propose a rationalisation of the currentallocations and instruments seeking for the optimal use of the available funding in favour of215
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OUTLINE OF THE REPORTEXECUTIVE SUMM
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LIST OF GRAPHSGraph 1. Economic cli
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ACKNOWLEDGEMENTSThe report was prep
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European CommissionThe Economic Adj
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1. INTRODUCTION1. INTRODUCTION1. Th
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2. MACROECONOMIC AND FINANCIAL DEVE
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2. Macroeconomic and financial deve
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Chart 3Graph 2.3. Exports of goods
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European CommissionThe Second Econo
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Chart 17Graph 11.1 labour reform in
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Chart 18Graph 13.1. Distance to Fro
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4. DEBT SUSTAINABILITY ANALYSIS AND
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4. Debt sustainability analysis and
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4. Debt sustainability analysis and
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ANNEX 2: MACROECONOMIC FORECASTANNE
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ANNEXTable B1: USE AND SUPPLY OF GO
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ANNEXTable C1: FISCAL ACCOUNTS AND
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ANNEX 3: UPDATED PROGRAMME DOCUMENT
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Memorandum of Understanding on Spec
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