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In Spain 28th November 2023

Brussels calculates Spain has only spent €20,000 million of €37,000 EU funds received

Spain has spent around €20 billion of the grants from the Recovery and Resilience Mechanism (RRM), the main instrument of the Next Generation EU, in the first three years of implementation. These are the estimates of the Commission itself and set out in its latest revision of the Budgetary Plan sent by the Spanish government in October. Brussels has already disbursed €37 billion of the €80 billion expected up to…

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comisioneuropeaTC

In Spain 22nd November 2023

Brussels warns Sánchez of “very difficult” deficit and debt situation and calls for “credible strategy” for adjustment

Brussels has been giving the new government of Pedro Sánchez economic homework to do from the first day of his mandate. Ursula von der Leyen’s Commission warned on Tuesday that Spain’s fiscal situation is “very difficult” due to high deficit and debt levels and called for “a credible medium-term fiscal strategy”. In the absence of new adjustments, the EU executive could open a sanctioning procedure against Spain for excessive deficit…