|Author (Person)||Mileusnic, Marin|
|Author (Corporate)||European Parliament: European Parliamentary Research Service|
|Series Title||EPRS Briefings|
|Series Details||PE 698.878|
Spain's National Recovery and Resilience Plan (NRRP) is one of the biggest financed by the Next Generation EU (NGEU) recovery instrument. It contains the largest amount, in terms of grants, under the unprecedented EU response to the crisis caused by the coronavirus pandemic. Spain's national allocation for grants under the Recovery and Resilience Facility (RRF) amounts to €69.5 billion and represents 9.6 % of the entire RRF, or 5.6 % of the country's gross domestic product (GDP) in 2019 (the RRF being 5.2 % of EU-27 GDP in 2019).
In June 2022, the grant allocation was revised upwards to €77.2 billion (+11.1 %). In addition, Spain's general state budgets plan investment of €27 billion, aligned with the NRRP. The RRF funding will be supplemented by €12.4 billion from the REACT-EU funds, mainly for investment in health and education, and by the structural funds set out in the 2021-2027 multiannual financial framework. Measures under the plan are to be completed by 2026. Spain has so far received 45 % of the resources in the form of pre-financing and the first two grant instalments, above the current EU average (28 %). The third payment request was sent to the Commission in November 2022 and its assessment is ongoing. The European Parliament advocated the creation of a common EU recovery instrument and is co-legislator for the adoption of the RRF. It participates in the interinstitutional forums for cooperation and discussion on its implementation and scrutinises the European Commission's work. This briefing is one in a series covering all EU Member States. The first edition was written by Miroslava Kostova Karaboytcheva. Third edition. The 'NGEU delivery' briefings are updated at key stages throughout the lifecycle of the plans.
|Subject Categories||Economic and Financial Affairs|
|Countries / Regions||Spain|
|International Organisations||European Union [EU]|