Brussels cuts Spain’s budget by 20 %
Spain will only have €79.9 billion for regions and agricultural programs, which represents 20 % less than the amount allocated to the European country in the current budget for the 2021-2027 period
Brussels announced a cut of at least 20 % in the allocation of resources to Spain for the 2028-2034 period. Therefore, the country will receive €79.9 billion for the regions, the Cohesion Policy, the Common Agricultural Policy (CAP), and the fisheries sector.
The actual allocation amounts to €88.1 billion. However, the country must “reserve at least €16.3 billion of this amount for less developed regions, that is, those with a GDP per capita below 75 % of the EU average (currently Castilla-La Mancha, Andalusia, Extremadura, Ceuta, and Melilla).”
In addition, €3 billion will be allocated to migration and border management, and another €5.3 billion to the Social Climate Fund. The remaining sum is less than €80 billion.
The reduction in the budget from the European Commission to Spain represents 20 % less than the current amount in the 2021-2027 budget.
“Specifically, Spain is allocated approximately €35.56 billion from the current Cohesion budget (€23.4 billion from the ERDF, €11.3 billion from the European Social Fund, and €870 million from the Just Transition Fund), to which another €14 billion must be added from the React-EU instrument, with which the EU reinforced this policy through the recovery fund.”
It is important to highlight that the accounts proposed by the European Commission detail the obligation for the Twenty-Seven to allocate €218 billion to less developed regions.
M.Pino
Source: swissinfo
(Reference image source: Jorge Fernández Salas en Unsplash)
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