Spain is leading the way in implementing European funds, having already received the first three payments – the reformers are waiting to request a fourth – and is awaiting an assessment by the European Commission on the addition of the recovery plan so that it can. 80,000 million in the form of a green light. On the verge of this decision, Brussels warns Spain that it needs to strengthen its “administrative capacity” to be able to absorb this huge sum, which will be about double what it has received so far (€37,036 million).
“Implementation of Spain’s recovery plan has made progress so far, but some challenges lie ahead,” the European Commission notes in its second annual report on the recovery and resilience plan. “This should be accompanied by enhanced administrative capacity sufficient to ensure the effective and efficient absorption of recovery and resilience funds and other available EU and national funds,” the document adds, thus calling on the executive to facilitate the procedures. Take loans.
The report, which recalls that 20.6 billion euros have been transferred to the autonomous communities, hails that the investments made thanks to the recovery funds are “on the right track” with 76% of the budget funding of more than 50,000 million.
At a time when economic pessimism is taking hold among European economic technocrats, after growth forecasts for 2023 were revised downwards, the European Commission is pinning much of the economic growth on the recovery.
Globally, however, they are resisting. Brussels has given only 22% of the European funds: 153,400 million euros of the 707,000 that should be delivered by 2026. When the half term approaches, six countries remain to request the first payments (only 21 have done so. ).. Initially, the planned amount was 800,000 million euros, but 27 did not apply for all the loans and were limited to 75%, so the financing on the markets It will also be less than originally thought.
Source: El Diario