Although the first vice president,

Nadia Calviño

, had promised "

cruising speed

" in the deployment of European

Next Generation

funds this year, the truth is that between January and March of this year the Executive has only made

payments worth 682.8 million euros,

of the total of

26,900 million

that are budgeted for the year.

According to the Budget Execution Statistics published by the General Intervention of the State Administration (


) with data up to March 2022, the Administration has disbursed in


in the first quarter of the year

only 2.5% of the total

budgeted for the exercise.

That is the amount that private companies, beneficiaries and, above all, recipient public entities have actually received in the first quarter.


477.1 million

euros have been awarded by the Ministry of Transport, Mobility and Urban Agency -the majority allocated to the

construction of social rental housing

and efficient buildings-,

172 million

have been disbursed by the Ministry of Industry, Trade and Tourism -to

transform the tourism model

towards sustainability with a work plan in destinations-, and

12 million

have gone to the Ministry of Agriculture, Fisheries and Food -of which 10 are for the

Spanish Agricultural Guarantee Fund-.

Other organizations that have received payments from the Next Generation funds have been the

Ministry of Health,


6.6 million

for digitization;

the Ministry of Education and Vocational Training, with

5.17 million

- the majority for the innovation and internationalization of



Defense, with

5 million

for the National Intelligence Center (




1.7 million

for the 'Spain protects you against

sexist violence

' plan and Economic Affairs, 1.6 million, for modernization and digitization.

Although initially the budgeted funds amounted to 26,900 million euros, the Executive has modified the budget and now amounts to

27,920 million euros

for the year as a whole.

If the current rate of disbursements were maintained throughout the year, the volume of money injected into the real economy would be

2,728 million euros at the end of the year, only 10% of the total.

Despite the fact that the money that has reached the real economy is little, the Administration has

authorized expenses

for a value of

7,040.9 million

euros until March (


of the annual budget), it has

committed expenses

for a value of

4,389 million

euros to specific projects (


of the total) and has recognized

net obligations


1,315 million



The volume of payments, however, is 682 million and IGAE itself admits that the

percentage of realization

(net obligations versus total credit)

is only 4.7%.

Lack of transparency

In 2021

, the Government had budgeted total credits charged to the Next Generation funds for a value of

24,198 million euros

, but

the payments made

in the year

were only 11,000 million.

This means that 13,198 million remained pending distribution.

The authorizations, however, amounted to 22,128 million;

the commitments, to 20,977 million;

and the recognized obligations, to 20,044 million.

Although 11,000 million were disbursed,

it is unknown how many reached the real economy

, since this volume includes

transfers to other administrations

(mainly autonomous communities).

For this reason, the impact of these funds on the Gross Domestic Product (


) was

"almost nil",

according to the Independent Authority for Fiscal Responsibility (



The Executive itself has recognized on more than one occasion that it cannot know in real time how the autonomies spend money or at what rate they bid and


, for its part, has asked it several times

to be more transparent with the figures.


An effort of transparency and coordination

between all areas of Public Administrations is necessary to make accessible the information required in the framework of the communication from the European Commission dated March 2, 2022. In particular, this information refers to the

execution of the funds of the Recovery Plan

in terms of

national accounting

throughout the horizon of the stability program, which is highly useful when assessing its impact", the authority recommended in its latest report.

In response to the AIReF published this Tuesday, the Treasury argues precisely that the IGAE budget execution statistics comply with the obligation of

article 135 of the General Budgetary Law

to make information on execution available to the Cortes Generales, which includes information on the execution of the Recovery Plan as of March 31, 2022.

Conforms to The Trust Project criteria

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