Government expects full implementation of the Recovery and Resilience Plan by 31 August

The Government expects to complete all milestones and targets under Portugal's Recovery and Resilience Plan (RRP) and fully implement all available grants by 31 August. "Not a single euro will remain uninvested. Not a single euro will be returned to Brussels," said Minister of Economy and Territorial Cohesion Manuel Castro Almeida at a conference in Lisbon on 28 July.

Speaking at the conference "LOADING - The 10th Payment Request is Loading", the Minister said that Portugal has entered the final phase of implementation of the Plan. To date, 283 of the 379 milestones and targets agreed with the European Commission have been completed, with 96 still to be submitted. The Plan's 43 reforms are also expected to be completed during August.

"We are now entering the final stretch," said Manuel Castro Almeida. While acknowledging that not all objectives have yet been achieved, the Minister expressed confidence that they will be completed before the deadline. "Provided there are no unforeseen incidents or setbacks, we expect to reach the deadline having fulfilled all the milestones and targets of the Recovery and Resilience Plan," he added.

Portugal's RRP mobilises €21.9 billion. So far, €13.5 billion has been paid to direct and final beneficiaries, while Portugal has received €15 billion in European funding.

Solutions for projects extending beyond the deadline

Manuel Castro Almeida also explained why some RRP-funded projects may not be completed by 31 August without affecting the fulfilment of the agreed targets.

In sectors such as health and education, the Government contracted more projects than strictly required to meet the targets agreed with the European Commission, creating a safety margin to accommodate possible delays through an "overbooking" approach.

During the implementation of the Plan, it also carried out reprogramming and adjustments, allowing projects that could not be completed within the deadline to be replaced by other investments. Examples include increasing the number of schools to be built or renovated and the creation of the Financial Instrument for Innovation and Competitiveness (IFIC).

Projects removed from the RRP will be financed through alternative funding instruments. For projects that remain under the Plan but cannot be completed by the deadline, the Government is seeking solutions through Portugal 2030, the European Investment Bank and the State Budget.

"The Government will stand alongside these institutions, working in partnership to ensure that no project is left unfinished," said the Minister. He stressed, however, that the priority over the coming month is to progress "as far as possible" in implementation by 31 August.

Investments already delivered

The Minister also highlighted some of the results already achieved through the Recovery and Resilience Plan.

In health, 490 healthcare facilities have been built or refurbished, while 3,850 beds have been created in the national network of continuing care, palliative care and mental health services.

In housing, 31,000 social and affordable homes have been built or renovated, together with 18,000 student accommodation beds.

In education, 87 schools have been built or refurbished, and projects supporting 365 Specialised Technology Centres have been funded.

For businesses, the 51 Mobilising Agendas have resulted in more than 1,100 new products, processes and services, while more than €1.05 billion has been mobilised to strengthen companies' capitalisation.

10th payment request to be submitted shortly

Portugal is now preparing to submit its 10th payment request to the European Commission. According to the Minister, the request demonstrates that the Recovery and Resilience Plan is delivering tangible investment across the country.

"It is not merely an accountability exercise before Brussels; it is an accountability exercise before the Portuguese people," said Manuel Castro Almeida.

The Minister argued that the impact of the Plan should be measured by what remains in Portugal: healthcare facilities, housing, schools, social services, more innovative businesses, more digital public services and more resilient infrastructure.

"Portugal cannot wait for the future. We must build it," he concluded.