Brussels announces it is sending 12,000 million euros to the country for its reforms and “transformative” investments in key areas
The Executive of the European Union handed over the second payment of the Next Generation funds worth 12,000 million euros to Spain this Friday. This payoff comes after the country has implemented reforms and investments in key areas for Brussels, such as the digital economy, health services, education, the labor market and public finance consolidation, among others. The President of the European Commission, Ursula von der Leyen, has celebrated the delivery of this second payment with a message on her social networks: “Congratulations to Spain!” she wrote.
Last month, the EU gave its preliminary approval to provide recovery funds to Spain. In his view, the country has reached the 40 milestones and targets, although he has doubts about the viability of the pension system reform, which could jeopardize the fourth payment of these European funds.
Spain has already received 9,036 million euros in pre-financing from Brussels, in addition to another 10,000 million from the first payment of European aid. In this way, after the second payment, Brussels delivered 44% of the allocated reparations.
Doubts about the viability of the second tranche of the pension reform lie in the Spanish government’s “over-optimistic” savings estimates. With the new mechanism to link them to the CPI and the measures to postpone the retirement age, Spain expects to generate tax savings of between 0.2% and 0.4% of GDP in 2030 and between 1.1 in 2050. % and 1.6% of GDP. believes, however – in a first report – that these estimates are subject to “high uncertainty”, although it will be necessary to wait until the end of the year before the country can submit a final dossier, which the EU will have to analyze .
Source: La Verdad
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