Spain is advancing toward the next tranche of European funds as part of the Next Generation EU program. The government has announced a forthcoming disbursement of 12,000 million euros in the weeks ahead, a step tied to the country’s progress on planned reforms and investments for the latter half of 2021 within the Recovery Plan. The timetable focuses on key policy changes, including labor reform and updates to the pension system, such as mechanisms aimed at equalizing fiscal pressures and extending public funding for employment programs. Earlier in 2021, Spain received 9,000 million euros as an advance, part of a total 70,000 million euros slated for allocation through 2026. In December, a first tranche of 10,000 million euros was released upon fulfillment of the milestones established for the prior period. When the 12,000 million tranche arrives, total disbursements are expected to rise to around 31,000 million.
Data released by the Ministry of Finance shows that by April 6 the government, together with autonomous communities, had committed a substantial amount of European funding for the Recovery Plan, including investments in housing and related programs. The government reports that 29,252 million euros have already been allocated from budgetary resources, incorporating transfers to regional administrations to meet calls for assistance and investment, as well as support for businesses and families.
During the opening remarks at the economic forum, the Finance Minister noted a recent meeting between the head of government, Pedro Sánchez, and the PP president, Alberto Núñez Feijóo. The minister described the ongoing crisis as a moment that requires shared sense, mutual understanding of the state’s responsibilities, and a willingness to seek common ground beyond electoral considerations, given the pressures from the war in Ukraine.
In response to questions from the moderator, the minister underscored a goal of fiscal harmonization and expressed interest in the position of regional leaders, including Galicia’s stance on fiscal cohesion. The remarks also referenced Madrid’s regional governance and the broader intergovernmental dynamics among autonomous communities as they navigate revenue distribution and public service commitments. The minister emphasized that fiscal cohesion remains a central objective for the federation of regions.
From the minister’s perspective, Madrid’s capital status contributes to a larger revenue stream, which in turn enables it to exert downward pressure on fiscal gaps in other communities that must balance revenue with the need to sustain quality public services. The minister stressed that achieving greater financial cohesion among autonomous regions is a shared aim and that, until consensus is reached, efforts to advance this policy will pause. The overall message highlighted a push for stronger unity and coordinated spending, with a pragmatic view of regional differences and the constitutional framework guiding such reforms.
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