In the first quarter of 2023, the Spain approved 10,7 billion euros of investments in the National Recovery and Resilience Plan (Pnrr) equal to 40 per cent of the 28,6 billion euros budgeted for this year. This was announced by the Minister of Economy, Nadia Calvino, highlighting that the use of these funds is experiencing a "significant acceleration".
The minister explained that the reason for the increased implementation of the funds is due to the increased role of the autonomous communities, thanks to the increase in the number of calls for proposals. So far, the government estimates that nearly 300 projects across the country have been affected by the European package, 45 percent of which come from companies. In addition to investments, Calvino assured that the executive will continue to implement the structural reform agenda in 2023 with new reforms such as the university system, the second phase of the pension reform and the new housing law. In this regard, the minister highlighted that the impact of EU funds has an effect of between 30 and 40 billion euros more on GDP for each year of implementation of investments and reforms. Grouped by investment, the main appropriations go to the rehabilitation of buildings with aid of 6,8 billion euros, to the rail transport network (6 billion euros) and to the digital kit, with 3 billion euros budgeted.
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