Spain: Government Announces €150bn Public Investment for Corona Recovery

PRIME MINISTER of Spain, Pedro Sánchez has announced a massive public investment of €150 billion to help the Spanish economy recover after the coronavirus pandemic.

This is a somewhat different stance to that taken by the former government after the global financial crisis of 2008, when Spain was placed under shocking austerity.

The plan to inject €150 billion into Spain’s public sector still has to be approved by the European Commission. This is because Spain is applying for EU aid to help with the crisis, which will provide the funds to carry out this plan.

The total amount of the recovery fund the Spanish government is negotiating with the European Commission is €750 billion.