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The contribution of European sources of direct funding to the economic development of Greece
Category: Microeconomic Analysis
SubCategory: Others
Date: 20/03/2023
The European Union has set up direct funding programmes that provide significant resources for a number of flagship policy areas and priorities. Resources from these programmes reinforce policies such as digital transformation, energy transformation, environmental protection, the fight against climate change and international cooperation. The resources of these programmes come from the national contributions of member states to the EU budget and are disbursed directly from the EU budget, through calls involving public and private sector entities from across the EU. Τhe scope of the study is to highlight the implementation of the European direct funding programmes in Greece in 2014-2020 and quantify the wider benefits that the funding from these programmes has brought to the Greek economy. The analysis shows that Greece ranks fairly high in the use of resources from direct funding programmes, based on the ratio of funding over the Gross National Income of each country. However, the participation of private enterprises in the programmes is relatively low in Greece, while there is also a high concentration of funded enterprises in the Attica region. Meanwhile, the analysis shows that there are significant benefits from direct funding for the participating enterprises and the economy more broadly. The benefits for the economy can be even higher if more businesses turn to this type of funding, which promotes innovation, the achievement of environmental and social goals, and international cooperation.

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