March 28 (SeeNews) - The European Union said that, thanks to its cohesion policy, Croatia's gross domestic product (GDP) will be up to 8.0% higher by the end of 2030 than it would be in the absence of cohesion support.
The EU's cohesion policy aims to bring economic conditions in the bloc's poorer southern and eastern countries up to the higher western levels.
The policy has significant and positive effects for Europe as a whole, the European Commission said on Wednesday in its report on economic, social and territorial cohesion.
Macroeconomic modelling suggests that the 2014–2020 and 2021–2027 cohesion programmes, taken together, could increase EU’s GDP by 0.9 % by the end of 2030. It estimates that this impact is long-lasting, remaining at 0.6 % by 2043.
The impact is, much stronger in cohesion countries like Croatia, Poland and Slovakia, where support is concentrated, the Commission added.
Croatia will receive a total of 9 billion euro ($9.71 billion) from the cohesion policy in 2021-2027.
The cohesion policy has been crucial for the European project, supporting its key milestones from the single market creation to recent green and digital transitions, the Commission said. It ensures that benefits from integration are shared across Europe, recognizing that market forces alone are insufficient.
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