Danger of fiasco for the Spanish economy.
The Government has become the one that most trusts the recovery to the community mana of all the member states.
At the same time, it presents low levels of execution of the money, even anticipating its arrival.
The data appears in a report by the European Commission published this Thursday and gives Spain the first position in terms of dependence on European funds.
The percentage of public spending that it hopes to cover with the funds of the so-called Recovery and Resilience Mechanism in 2021 and 2022 exceeds 3% of the Gross Domestic Product, well above the next in the ranking that is Greece, which does not reach 2%.
EU funds recovery mechanism
Spain is not the main beneficiary of the new funds, neither in absolute figures - Italy surpasses it - nor in proportion, but it counts like no other the community money to get out of the crisis. The European Commission points out in its report that it has recommended that member states make use of the new Mechanism, but also preserve national spending to get out of the crisis as soon as possible.
At the other end of Spain is Italy, which, for the moment, is betting more on the bird in hand of national spending
than on European
spending
, to the point that it has received criticism from the European Commission. Commissioners
Valdis Dombrovskis
and
Paolo Gentiloni
reproach the Government of
Mario Draghi
that it has not put more limits on its national spending with such high indebtedness.
And Spain?
The European Commission does not comment that there are states that account for much more funds than others in these first two years.
"It reflects the volume of grants allocated in the Recovery and Resilience Mechanism as well as the disbursement schedule linked to the achievement of planned objectives and milestones."
That is, the Government is betting more than anyone that it will comply in 2021 and 2022 with the conditions and that it will execute the funds quickly.
The coalition government is simultaneously attempting a restrictive budget on national spending for recovery, according to the Commission. And that implies a risk, given the Spanish execution capacity.
Not even advancing the money while waiting to receive it from Brussels
, as the Government did in the 2021 Budgets, the planned is being fulfilled.
This is emphasized by a report by the Savings Banks Foundation (Funcas) published this Thursday.
According to its authors,
César Cantalapiedra and Ana María Domínguez
, the execution percentages up to October of what was already budgeted in 2021 do not allow optimism.
They barely exceed 50% on average when they only give two months to end the year.
"It is always difficult to get the machinery rolling
,
"
the Minister of Finance,
María Jesús Montero
, told La Sexta
.
She maintains that 51.8% of European funds for this year are already "committed," but she was sure that Spain will end up taking advantage of the 140,000 million planned.
EU enforcement funds
In the Funcas study they point out that «taking into account the budgetary distribution contemplated in the plan for the year 2021 and the information on the calls published up to the month of October (inclusive), there would still be a notable volume of funds to be executed before the closing of the current exercise. It should also be noted that the degree of execution is heterogeneous, between the lever policies and the components of the plan (...)
Barely two months before the end of the 2021 financial year, it seems difficult
for the entire budget foreseen for this first year of implementation of the Plan ».
The money planned for the
modernization and digitization of the industrial fabric and the SME, the recovery of tourism and the promotion of an entrepreneurial nation Spain
has not been executed even by 50% until October. Nor is it assigned to resilient infrastructures and ecosystems or to a
just and inclusive energy transition
. Especially striking is the fiasco of
an Administration for the 21st century
with
an execution in the first ten months of the year that does not even reach 10%
, although the authors clarify that it may be above if the different administrations directly apply the resources assigned to them.
The authors emphasize that chapters already executed must be distributed in turn by the communities.
"For next year we can expect greater dynamism in the implementation of the funds," they point out.
According to the criteria of The Trust Project
Know more
Spain
European Comission
Maria Jesus Montero
Italy
Mario draghi
Greece
European Union
MacroeconomicsBrussels approves the Spanish Budget for 2022, one of the least expansive in the EU
Social Security Draghi rules out raising contributions like Sánchez to support pensions: "We must alleviate the tax burden"
Crisis The light continued to rise by 10% after the government reform and pressures Ribera to seek more measures
See links of interest
Last News
2022 business calendar
Home THE WORLD TODAY
Holidays 2021
Podcast Economia
How to do
Bayer 04 Leverkusen - Celtic
Crvena Zvezda - Ludogorets Razgrad
Dinamo Zagreb - KRC Genk
FC Midtjylland - Sporting Braga
Galatasaray - Marseille