Einar H. Dyvik
Research expert covering Nordics and global data for society, economy, and politics
NextGenerationEU - Statistics & Facts
The Next Generation EU economic recovery package is a series of programs launched by the European Union and its member states in the aftermath of the COVID-19 pandemic. All European nations were affected negatively by the pandemic with particularly hard hit nations, such as Italy and Spain, being some of the least prepared to deal with it both medically and financially. The economic fallout from the public health measures put in place by EU member states in particular, as well as by the negative global economic climate in general, led to calls for economic stimulus to counter these adverse impacts. The recovery instruments are significant as it is the first time that the European Union has collectively organized an economic stimulus package between its member states, with some of the loans and grants funded by the issuance of bonds at the EU level, meaning that for the first time the EU member states are collectively creating joint public debt together.
