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Finance Minister Nadia Calviño. SUR
Extension of Spain's anti-crisis measures approved by Cabinet

Extension of Spain's anti-crisis measures approved by Cabinet

Economy ·

The government has released a colossal 47 billion euros with the seven anti-crisis plans that have been approved since the outbreak of the war in Ukraine

Clara Alba

Madrid

Wednesday, 28 June 2023, 17:12

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The Spanish government's Cabinet approved on Tuesday 27 June the extension of the main anti-crisis measures that were due to expire on 30 June and gave the green light to new measures, through a new decree with 3.8 billion euros being made available between now and the end of the year.

The figure raises the cost to be assumed by the government in the second half of the year to almost nine billion if the aid that was already approved until 31 December, such as the tax rebate on electricity bills, is included.

"This plan will help us to move forward with confidence," said the finance minister Nadia Calviño.

In total, the government has released a colossal 47 billion euros with the seven anti-crisis plans that have been approved since the outbreak of the war in Ukraine. Brussels is keeping a close eye on the Spanish economy which is on a deficit reduction from 4.8% to 3.9% this year, in order to reach a 3% target by 2024, one year earlier than planned.

"All the measures are compatible with this reduction," Calviño said.

The anti-crisis measures include the extension of the cut on IVA, the Spanish sales tax, on basic foodstuffs such as bread and milk, as well as the reduction to 5% for oils and pasta until the end of the year. The Treasury calculates that Spanish households will save 1.32 billion euros this year with the measure.

The 30% discount on public transport has also been extended.

The government has also extended a diesel subsidies for professionals.

The decree includes a 15% deduction in personal income tax for those who buy an electric vehicle until 31 December 2024, on a maximum base of 20,000 euros. The deduction will also be available if battery charging points are installed before 31 December 2024.

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