The main objective of the telecommunications and digitalization budget is the deployment of the Spain Digital Agenda 2025, for which an investment of 3.750 billion euros is allocated in 2021.  This “historic increase” is supported by the financing of the new EU Recovery and Resilience Mechanism, which will provide 3.650 billion euros for this purpose. The strategy includes ten guidelines and nearly 50 proposals to promote the digitalization of the productive structure and society as a whole.

Today, the EC worsened its forecasts on the Spanish economy’s performance. It now expects a slump in GDP at the end of 2020 of 12.4%, compared to the 10.9% estimated a few months ago. This is the most severe decline in the entire European Union. Spain will be the only country in the region with an over 10% drop in its economy this year. The Spanish government warns that these macro forecasts “have become outdated”,as they have not collected data on 3Q GDP, which is much better than expected.

According to the FDI Markets database (produced by the Financial Times Group), in 2020 Spain was the fourth largest European receiver of greenfield projects, ICEX Agency reported. During this period, a total of 313 foreign capital greenfield projects have been carried out in Spain. While this is 42 percent down on last year, the fall at global level has been higher still. This has enabled Spain to reach the fourth position, which is an improvement on previous years: in 2019, it was in fifth place, and in 2018, seventh.