The Government has formally requested this Friday from the European Commission the

disbursement of 10 billion

euros of European

Next Generation

funds

, which

will not reach the country until next year.

This disbursement would be added to the

9,036 million

euros that Spain already received in the summer, when the Recovery Plan was approved and that amount was released as an advance.

Spain has been the

first country in the EU

to request the next payment, as reported by the Ministry of Finance.

The Government has had to present proof that it has met the

52 milestones

to which this disbursement was subject.

Once received, the European Commission has two months to evaluate it with the different member states and with the Economic and Financial Committee, before approving the disbursement.

Although Brussels will officially carry out this examination of the application, sources from the European Commission have confirmed to this medium that

the dialogue with the Government of Spain has been fluid

in recent months and both parties have ensured that the milestones are met. has occurred.

Initially it was planned that the Executive would make the request in October, which would have allowed the 10,000 million to arrive in 2021. As it has been delayed a few days, it is foreseeable that

the payment will not arrive until 2022

, with which Spain will have received only 9,000 of the 27,000 million that it had planned to execute this year.

Only 18.5% of the budget for 2021 has been executed

Although the Government will not receive the 27,000 million this year, the pace of execution is so slow that it will not have had to advance anything via public debt, since

at the end of October it had only executed 5,000 million of the funds

and through transfers to other administrations, so the money has not yet reached the real economy.

To date, Spain has had no difficulties in complying with the milestones agreed with Brussels, but

the scenario is complicated from now on

.

For the next disbursement, the Government will already have to demonstrate that it has managed to approve in the last quarter of this year the

labor reform

and

the pension reform,

which are currently stuck in the social dialogue tables and that continue to generate disputes within the Coalition Government itself and the Council of Ministers.

This Monday, November 15, theoretically the

deadline that the Ministry of Social Security had given

to have agreed on a pension reform with the employers and the unions

ends

.

The three parties have a meeting scheduled for that day, but the positions are still far apart and the agreement seems complicated.

According to the criteria of The Trust Project

Know more

  • Spain

  • European Comission

  • Social Security

  • economy

Economy The red lines between Díaz and Calviño: agreements, 15% of the temporality, do the unions win or not? ...

Next Generation Funds The Government now publishes the contract for the funds and signs an attempt to receive 75% of the money in this legislature

EconomyThe EU also dodges Spain's request to set the price of electricity on its own

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