Spanish Prime Minister Pedro Sánchez has outlined how the government plans to spend its share of the EU recovery fund | Carlos Alvarez/Stringer/Getty Images
Spain’s Sánchez presents national recovery plan
Policy priorities include infrastructure, education and training, science and innovation, and modernization of industry.
By Paola Tamma
Updated 10/7/20, 2:01 PM CET
Spanish Prime Minister Pedro Sánchez presented his country’s national recovery plan, outlining the government’s proposed expenditure of its share of EU recovery funds, amounting to €140 billion over the period 2021-2026.
Sánchez said the government will concentrate more than half of the spending — €72 billion — in the first three years. The government also will advance €27 billion from its own national budget, so as to accelerate the implementation without having to wait for the Commission to disburse the funds, the timing of which is dependent on ongoing negotiations between the European Parliament and EU countries. “This advancement will allow us many things,” he said.
Spain set specific expenditure thresholds at or above those required by the Commission in certain areas: It will spend over 37 percent of the funds on the green and ecological transition, and 33 percent on the digital transition, Sánchez said — compared to 37 percent and 20 percent requested by the Commission.
He listed 10 policy priorities, including new and improved infrastructure (12 percent of the funds), education and training (18 percent), modernization of industry (17 percent), and investments in science and innovation (17 percent).
Sánchez said the government estimates the plan will add 2.5 percentage points to the economy’s annual growth rate for the next three years,