Spain gives up another 1.25 billion in credits from the European recovery plan
The Government is removing its commitment to Brussels to reform tax incentives, given the parliamentary weakness that prevents it from modifying them.
Spain has renounced an additional €1.25 billion in credits from the European recovery plan, which was aimed at economic reactivation following the pandemic. In the latest review of this program, the Spanish government has finalised the amount of credits used at around €21.5 billion, after a further reduction of €1.257 billion in the final funding request.
This reduction is attributed to a lack of demand from companies for digitalization, electric car development, and funding for social housing construction. Consequently, Spain is renouncing over 75% of the allocated credits. However, this is not the case for the granted subsidies, which amount to approximately €80 billion and are fully awarded to projects.
Brief written by urgent.news from El Pais Economia's own syndicated text. Machine-written — it may contain errors, so check the original before relying on it.
