On 26 November 2025, Ivana Maletić, member of the European Court of Auditors (ECA), delivered a lecture at the Institute of Public Finance on the key lessons from the Recovery and Resilience Facility (RRF) for the EU’s future multiannual financial framework.

This topic is at the centre of current discussions at the EU level, particularly in the context of preparing the new Multiannual Financial Framework for 2027 and beyond. The RRF, worth €650 billion, was established in 2021 as the EU’s response to the economic consequences of the pandemic. In recent years, the ECA has published a series of reports pointing to key weaknesses in the design and implementation of the RRF, including its limited focus on results, shortcomings in the control system, and challenges related to accountability and oversight.

The presentation outlined the main findings of these reports, as well as practical examples from numerous discussions held in member states, the European Parliament, and at conferences. Particular emphasis was placed on the reasons why the RRF cannot be considered an accurate results-based financing instrument. The milestones and targets provide information on progress in implementing the measures, but they focus on outputs rather than actual outcomes. No baseline or expected target values have been set for common indicators, and since there is no data on actual costs, it is impossible to assess how efficiently the funds have been used.

Drawing on the experience, Ivana Maletić presented a series of recommendations for future EU financing instruments. In the conclusion, it was emphasized that the RRF experience is a valuable lesson for the future. Although it provided an urgent and necessary response to the crisis, its limitations clearly demonstrate that the success of EU programmes can only be achieved if measurable impacts, transparent management, and clear accountability for implementation are prioritized. This approach will prove particularly important for the upcoming negotiations on the new EU multiannual budget.

The lecture was moderated by Mihaela Bronić, researcher at the Institute of Public Finance.