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Brussels
Tuesday, 10 December 2024, 11:16
Spain's Minister of the Economy Carlos Cuerpo has confirmed this Monday from Brussels the Spanish government's intention to request a fifth payment of the anti-crisis fund before the end of the year that also includes an increased amount. In other words, an increase that is above what was initially planned - around 7.5 billion euros - and, in return, the national government will bring forward up to 50 milestones and objectives corresponding to later tranches of the recovery plan.
These are elements that Spain is already complying with in advance and which correspond to the sixth, seventh and even eighth payouts, as Cuerpo explained in statements to the media in Brussels, where he is participating in one of the regular Eurogroup meetings between all the finance ministers in the Eurozone.
Cuerpo has avoided specifying figures, but the government already specified on 3 December that this will allow formalising, before the end of 2024, the official request for the fifth disbursement of more than 7.5 billion euros in transfers, together with the first two loan disbursements, which will mean a total amount of close to 25 billion euros.
Cuerpo has clarified that it will be necessary to "redefine" the timetable, both for transfers and loans, with the European Commission, something he hopes to do in the "coming weeks".
He also recalled that this fifth disbursement - with a year's delay in its request - is accompanied by a specific milestone related to tax reforms, which he hopes can be positively received by the EU executive and which Spain already considers to have been fulfilled.
Negotiations with Brussels on the reprogramming of funds from the recovery plan for the reconstruction of the areas affected by the 'Dana' weather events are also expected to be completed in the coming weeks.
In this respect Cuerpo explained that two parallel exercises are being carried out: "the first is to calculate the total amount of funds that can be dedicated to this addendum and, at the same time, to define the projects to which these funds can be dedicated."
"We are doing it jointly with the European Commission, but also with social partners on the ground there in the province of Valencia itself. In fact, I met with them just a few days ago to define together what this project would be," he said.
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