Spain continues to advance under the Next Generation EU program, with 66% of the 2022 budget already authorized. This rate surpasses the 53% commitment level and indicates that more funds have been transferred than initially approved. A total of 18 billion euros has been allocated to autonomous communities to support projects under their mandate.
Recovery Plan rollout is accelerating, according to a statement to the Economic Affairs and Digital Transformation Committee. The focus is on communicating the economic situation and other related matters, while aiming to keep all stakeholders informed about progress and challenges.
Despite ongoing global volatility marked by the war in Europe and rising prices, the emphasis remains on medium and long-term resilience. Officials highlighted the importance of disseminating the Rescue Plan and noted a higher monthly call rate than previously planned, with 2,000 million euros allocated to both the General State Administration and autonomous communities.
During the current year, an additional 7.7 billion euros transferred, together with the roughly 70 billion euros mobilized in the Plan, contribute to the Addendum to the Improvement Plan. This is aimed at mobilizing a total of 84 billion euros in credit commitments to strengthen financial flexibility and investment capacity.
Overall, public investments under Next Generation EU in Spain are projected to reach around 160 billion euros by 2026, combining transfers and loans tied to European funds. Beyond funding flows, reforms are highlighted for their impact on the economy, with labor market reforms cited as a notable example of success and progress.
The labor reform is presented as a driver of structural change in the job market. Evidence cited includes the rise of more than 20 million Social Security members and a decline in the unemployment rate toward the 12% mark, the lowest level since 2008. The data point to a more dynamic labor market and improved social protection outcomes.
Additionally, more than one million permanent jobs were created in Spain in the past year. In practical terms, roughly half of all new contracts are permanent, and it is noted that only a quarter of indefinite contracts involve fixed discontinuity, signaling greater workforce stability.
The Senate has approved the job creation and growth bill, known as the Create and Grow law, with some technical adjustments. Final ratification by the Congress of Deputies is anticipated in the near term, marking a key step in advancing structural economic reforms.
[Attribution: Spanish government data and parliamentary proceedings translated for public record.]