One year has now passed since the adoption of the RRF Regulation and most of EU Member States have now started to implement their recovery plans. Yet, many questions remain unanswered about the plans’ actual capacity to deliver their stated objectives. The complexity and heterogeneity of the plans makes it not only difficult to compare and assess them, but also raises doubts on existing capacity to monitor their implementation. Building on the methodological approach and the experience gained from the previous study we presented in September 2021, this updated paper further expands our initial analysis, including two new countries (Austria and Belgium), and introduces new insights on how far the plans cover entirely new investments or are being simply earmarked for previously budgeted expenditure. This paper is part of the ongoing CEPS Recovery and Resilience Reflection Project.