The latest news from Spanish media is that due to Spain's difficulty in returning to pre-epidemic GDP levels, the European Union has provided an additional 7.7 billion euros to Spain from the Next Generation Fund (recovery plan to deal with the impact of the epidemic). In this way, the final non-refundable amount that the EU will inject into Spain is 77.234 billion euros.
The Spanish economy fared much worse in 2020 and 2021 than the EU had expected, coupled with a very turbulent start to 2022 and the impact of the Russian attack on Ukraine ultimately led to a decline in Spain GDP and the country's economy in 2022 There was little growth, just 0.2% in the first quarter of this year.
In fact, Spain is the only EU country that has not yet returned to pre-COVID levels and has suffered the worst decline in the EU. At this point, the total subsidies Spain has received from the EU have reached 77.234 billion euros, and Spain remains the main beneficiary of these aids.
In addition, Spain can obtain loans from the facility equivalent to 6.8% of its GDP, or up to 86 billion euros.
