Spain prepared to save the economy at EU expense



Spain prepared to save the economy at EU expense

Pedro Sanchez
Photo: Mariscal / Reuters


The Spanish government has prepared to save the economy from the crisis caused by the COVID-19 pandemic with an investment plan worth 150 billion euros. Financing will be provided at the expense of the European Union, Reuters writes with reference to the country's Prime Minister Pedro Sanchez.





According to him, this state investment plan will also attract private resources. According to the EU project, the state will receive about 140 billion euros from a special restoration fund.

According to the Central Bank of Spain, under the worst-case scenario, the kingdom’s economy will shrink by 15 percent in 2020, which will be one of the worst falls in the Eurozone. The unemployment rate, which was 14 percent before the pandemic, will range from 18.1 to 23.6 percent in 2020.





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TAGS: SPAIN, ECONOMY, CRISIS, COVID-19, EU

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