Spain Requests Access to Second Tranche of EU’s Post-Covid Plan
(Bloomberg) --
The Spanish government sent a second request to the European Commission to access funds earmarked for a post-pandemic recovery program, months after receiving its first payment under the plan.
Spain made a second application to tap the bloc's Recovery and Resilience Facility to boost the economy, create jobs and meet environmental and digital targets, Commission Vice President Valdis Dombrovskis said in a tweet late Saturday.
Spain was the first country, in December, to receive funds totaling 140 billion euros in grants and loans from the EU program. It's the second-largest beneficiary of the program after Italy.
Spain's latest request comes a day after the government slashed its outlook for economic output, citing the effects of the war in Ukraine. Gross domestic product is set to expand 4.3% in 2022, down from a previous forecast of 7%, with growth expected to slow to 3.5% next year.
Spanish Premier Pushes Through Economic Plan With 11th Hour Save
©2022 Bloomberg L.P.
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