Sánchez announces that the economic recovery plan foresees 110 investments and more than 100 reforms “to change the country”

Publication: Monday, April 12, 2021 10:54

Spain’s recovery, transformation and resilience plan will be presented to the Interministerial Commission on Tuesday, and then, on Wednesday 14, President Sánchez will appear before the Congress of Deputies to present it to the plenary session of the House. After that, it will presumably be approved by the Council of Ministers on April 20 and then forwarded to the European Commission before the April 30 deadline.

The Prime Minister underlines that this plan will serve to achieve “an economic recovery in the short term” and to “transform our economy” in the long term. Sánchez insists that Spain is going through a “decisive moment”.

Thus, the plan includes 212 measures, of which 110 relate to investments and 102 to reforms. In three years, from 2021 to 2023, 70 billion euros will be mobilized, according to Sánchez, with the aim of causing an immediate impact on the economic recovery “already in 2021” and also to help private investment. “We want to create bigger companies,” he explains.

Among other aspects, this investment will focus on tourism sector modernization programs, the 5G roadmap, the VET strategic plan or the green hydrogen roadmap. “They are going to allocate 1,500 million to hydrogen energy”, declares the president by way of example.

Short term impact

Sánchez also insisted on the importance of “updating labor regulations, to achieve a more dynamic labor market”, more resilient, more inclusive and that responds to all the dilemmas of digitization, such as structural problems . In addition, the ERTE, the simplification of contracts or the renewal of active employment policies, are some of the fundamental elements for “the new labor market in the post-COVID era”, specifies the president.

The plan sets the objectives and programs that embody the European funds of 140,000 million euros granted to Spain and is based on four fundamental pillars: ecological transition, social and territorial cohesion, digitization and equality of genres.

The text to be presented is the central document which explains the overall contribution of the plan to the objectives and priorities set by the EU, the overall coherence of the plan and its components, the green, digital and gender impact, the financing of the plan, a brief description of the reforms and individual investments structured in “components”, of the implementation of the plan and of complementarity with other EU programs, of the various controls and audits and of the expected impact of the plan, between other aspects.

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