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Spain is asking for some flexibility from the European Commission to implement the economic recovery plan


Spanish Economy Minister Nadia Calvino said that Spain requires some "flexibility" from the European Commission in order to implement its plan to revive the economy and help companies affected by the Corona pandemic.

 

The Spanish minister confirmed that her country will receive the first of two or three tranches of a total of 140 billion euros from the European Recovery Fund by the end of the year, adding that half of the amount will be in the form of grants over the next three years, and the rest in the form of loans, after announcing details Next week's recovery plan.

 

The Euractiv media platform, which specializes in European affairs today, quoted Calvino as saying that the European Commission is already working to establish an implementation mechanism that could cover a large part of the planned investments in Spain, especially supporting private companies that are not compatible with the internal market of the European Union.

 

Spain's recovery plan, known as "PERTE", aims to support the sectors most affected by the crisis, especially the tourism sector, which accounts for about 15% of the country's GDP.

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