Spain presents the main lines of its recovery plan
Spanish Prime Minister Pedro Sanchez in Madrid, August 25, 2020. REUTERS / Juan Medina
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Spanish Prime Minister Pedro Sanchez presented his plan to revive the economy.
An economy devastated by the Covid-19 pandemic.
Madrid expects more than 11% of GDP to fall this year.
The government has the ambition to create 800,000 jobs.
So how will these funds be used?
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Ten driving policies have been defined.
Part of the funds will go to the development of agriculture and the fight against the depopulation of certain rural areas.
Madrid will dedicate 18% of the envelope to education and continuing training.
Other reforms include greater progressivity in taxation, support for innovation and strengthening of the health system.
Overall, a third of the sums will be invested in the country's digital transition.
And Pedro Sanchez, the Prime Minister, has not forgotten the other
top priority of the European Union
: “
Green investments linked to ecological transition represent more than 37% of the total of the plan.
The plan's mission is to create hundreds of thousands of jobs and create new businesses.
And it's not just about recovering the Gross Domestic Product that the pandemic has robbed us of.
It's about creating growth differently in a world that has completely changed.
"
However, the government has quantified this growth.
With this plan, he hopes to earn 2.5 percentage points of GDP growth per year for three years.
But the public accounts control body specifies that these gains will materialize only in "favorable circumstances", yet the context remains very uncertain.
A first tranche of 72 billion euros will be released over the period 2021-2023.
This is half of the funds allocated to Spain as part of the recovery plan
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To read also: Covid-19 in Spain: Madrid is reconfiguring itself in the face of the increase in contaminations
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