The Council of Ministers renounces 60 billion credits under European recovery funds. The government had about 83 billion euros, but it will end up asking for 22.8 billion euros, which means stopping … receive 70% of the loans. The Executive places this withdrawal “in the good progress of the economy”, declared this Tuesday the Minister of the Economy, Carlos Body, during the press conference at the end of the ministerial meeting.
Thus, the loans expected this year as part of the recovery plan will only amount to 6.5 billion euros, as indicated in the amendment which will be sent to Brussels. The government is giving up this money in order to also be able to lower the steps previously agreed with the European Commission and to be able to access the 25 billion in direct transfers that remain to be received. As the minister assured today, Spain has already received 70% of the total allocated transfers, which are slightly less than 80 billion. He also highlighted that Spain is the second country in terms of the number of steps achieved, with more than 260.
Body defended that this is possible thanks to the “good functioning of the economy” which allows the Treasury to finance itself with more advantageous interests on the market, compared to if it used those of Brussels. Concerning the revision of the Recovery Plan, the man from Badajoz based it on three keys: the reduction of the administrative burden to facilitate the verification of milestones, in addition to the updating of 160 measures; strengthening the “strategic priorities of the Plan” with new investments in European supercomputing programs (300 million) and an additional 2.5 billion allocated to the energy transition; and maintain the level of ambition of the plan to accelerate the execution of the stages and be able to access 100% of the 80 billion transfers.
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