Three Member States continue to experience excessive imbalances (Cyprus, Greece, and Italy) and nine others are experiencing imbalances (Croatia, France, Germany, Ireland, the Netherlands, Portugal, Romania, Spain, and Sweden). The implementation of reforms and investments under the RRF is expected to help address the challenges identified over previous Semester cycles and play an important role in addressing existing macroeconomic imbalances. The Commission has adopted the tenth enhanced surveillance report for Greece. The report concludes that, despite the challenging circumstances caused by the COVID-19 pandemic, Greece has taken the necessary actions to achieve its specific commitments. The Commission has also adopted the post-programme surveillance reports for Ireland, Spain, Cyprus, and Portugal. The reports conclude that the repayment capacities of each of the Member States concerned remain sound.