Until now, the public sector has been the main beneficiary of European Next Generation EU funds. After dodging the issue for several months, the government unveiled the list of the top 100 beneficiaries of these funds mid-afternoon on Friday, as the European Commission had demanded. And, according to the official statement from the Ministry of Economic Affairs, the major recipients of these funds have been public entities, as 60% of…
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…
The European Commission (EC) has endorsed the addendum to the extension of the Recovery Plan and accepts that Spain replaces the commitment to charge for the use of motorways with an increase in rail freight transport. Thus, the EC has given its approval to the addendum to the extension of the Recovery Plan by which Spain requests another €94 billion, between credits and aid, from the Next Generation programme and…
The Spanish government leads in receiving the grant part of European funds, having already completed three payments from Brussels worth €37 billion, but it is the twelfth in terms of execution capacity. Over the two-year period 2021 and 2022, Spain has barely executed 10.4 % of the €70 billion it has pre-allocated, which places it in twelfth place in the European Union. The European Commission has published the Staff Working…
Today’s Council of Ministers is expected to approve the addendum to the extension of the Recovery Plan, with which Spain will ask Brussels for an additional €94 billion from the Next Generation programme, including soft loans and non-refundable aid. Initially, the European Union assigned Spain direct transfers of €69.5 billion from the Recovery Mechanism, to be unblocked through compliance with the investments and reforms agreed in the Plan, as well…
The European Parliament is urgently demanding information from the Spanish government and the European Commission. The long-awaited report of the European Parliament’s Committee on Budgetary Control, which visited Spain this past February to audit the use of EU funds in our country, is about to be published. The draft report details the main conclusions of this visit and describes the meetings held with the different agents and members of the…
Renta 4 : European markets open higher (Eurostoxx futures +0.5%), with the markets on hold ahead of the inflation data due on Thursday and Friday in Europe and the US, which will determine the extent to which central banks will have to continue to raise interest rates. Meanwhile, the most advanced cycle indicators (German IFO, US Conference Board consumer confidence) show a better than expected performance in March, although the…
The European Parliament’s budget control committee is arriving in Spain to find out how the government is managing and spending European funds. A long-awaited mission that is keeping the government, which has just received the go-ahead from Brussels to receive a further 6 billion euros, on tenterhooks. The aim of the mission is to investigate how the government has managed and spent the money. But not all of it, but…
F. R. | Francisco Román, President of the ESG Group of the Círculo de Empresarios, assures that “What we do in the Círculo is a call for pragmatism and common sense, which is the basis for the functioning of companies” Q- The Círculo de Empresarios is calling for the application of sustainability regulations to be diversified according to the type of company. What should be the threshold or indicator to…
Pedro Sánchez has managed to get the European Parliament to introduce a last-minute amendment to the regulation that establishes the conditions for granting funds to member states. The amendment, which according to sources in the European Parliament “makes it possible to continue receiving NextGenerationEU funds even if the government fails to fulfil its commitments to Brussels”, corrects the text drafted by the European Commission, according to the Spanish daily El…