Spain will begin to receive European funds in July with which it will face the economic and social recovery after the Covid-19 pandemic. The

European Commission

has approved this Wednesday the

Recovery Plan

drawn up by the Government. A green light that has been staged in Madrid, at the Red Eléctrica headquarters, with a meeting between

Pedro Sánchez

and the president of the European Commission,

Ursula von der Leyen

. The forecast is that Spain can make use of the first 9,000 million in July. This year, a total of 19,000 million, an amount lower than the 27,000 million that the Executive anticipated.

"I am pleased to announce that the European Commission has decided to give the green light to the Spanish Recovery Plan. This news comes after excellent cooperation with the Spanish authorities and after a very detailed analysis of the decision. And the result has been excellent." . With these words, Von der Leyen solemnized that Spain is the second country to see its plan approved, after Portugal, where the president of the European Commission was also on Wednesday.

Once the green button is pressed,

the forecasts are that Spain will receive 9,000 million in July and 10,000 more in December

if all the deadlines are respected and the promised reforms are approved. However, while waiting for these European funds to arrive, the Government had already included in the General State Budgets for 2021 the channeling of more than 27,000 million euros, to be financed with these funds and which are intended for investments and reforms collected in the Recovery Plan.

A gap of 8,000 million

between the money that Spain will receive this year and what it expected to receive. "It is important to be aware that this is the first time that the EC has entered the financial markets. In the end, we have negotiated with the EC itself and we have reached an item of 19,000 million, which seems sufficient and we appreciate the effort of the Commission to balance the numbers, because not only is Spain present ", Sánchez has justified after the meeting he has held in Madrid with Von der Leyen. "We are talking about 6-7000 million euros that are perfectly acceptable for the Government of Spain."

As different ministers have explained in recent weeks, these 27,000 million are already in different stages of processing by the ministries.

In fact, more than 2,000 million have been distributed to the

territorial entities

to implement the Plan and give the economic injection.

In global terms, Spain will receive some 140,000 million euros from the recovery fund of 800,000 million approved by Europe, where the

ecological

and digital

transition

is prioritized

.

As the president of the Commission has confirmed, our country will receive a total of 69,500 million until 2023, which will arrive in the form of transfers.

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