Spain will have to carry out the labor reform before the end of this year. This is the commitment that the Government has reached with Europe to receive the first aid of 19,000 million from the resilience and transformation plan, of which 9,000 million are expected by the end of this month of July.
The Deputy Director General of the Directorate General for Economic and Financial Affairs of the European Commission, Declan Costello, confirmed this at the 1st Next Generation Conference organized by elEconomista .
Costello has shown confidence that our country will be able to carry out the committed changes in the labor framework so that all the funds of the program can be delivered, as it has already agreed with the pension reform. “We are going to monitor that all milestones are met that Spain advances in its recovery,” said the European president, who has clarified that Brussels will be flexible in its surveillance and will allow delays in the commitments acquired.
The Deputy Director of Economic Affairs has explained that on July 13, the EU Finance Ministers will sit down for the projects presented by the countries, including the Spanish one, so that the first deliveries by the end of the month will be made by advanced.
Spain, therefore, will receive 9,000 million. Another 10 billion will arrive in December. It will be then that Brussels examines the reforms carried out by our Government. In the first half of 2022, the EC will send another transfer of resources for 12,000 million.
The Spanish program contemplates direct aid of 69,500 million, as Costello has recalled, to implement digital and sustainable projects, being the highest amount of all transfers to member states. The mandatory has trusted in the execution of the same, but has warned that he will do “the first check at the end of the year” and that he will be vigilant that the objectives and milestones are met.
“The pension reform is a positive advance because its sustainability is also guaranteed by the agreement reached with the social partners,” he stressed. “It gives us confidence for the end of the year,” he added.
Costello stressed that the Spanish package of measures is “very ambitious” and has made it clear that Brussels will be flexible when approving disbursements. The intention, as explained, is that no country loses aid. “If the milestones and reform are not met, they may be delayed or there may be partial shipments,” he said.
In order for the programs to materialize, the EU has made its help available to member states. “We will do everything possible so that the plans are executed,” said Costello at the conference.