ELMA SAZ, The New Minister of Inclusion, Social Security and Migration, Ests Affirms That The Government of Spain Is Working To Request The Fourth DISBURSEMENT OF THE European Recovery Fund, Valued At 10,000 Million Euros In Subsidies As Soon As Sooner. “It will be imminently, we are working intensely on everything that has to do with that fourth disbursement,” says Saiz upon her arrival at the meeting of the Council of Ministers of Employment and Social Policy of the European Union in Brussels.
The European Commission approved a revised recovery plan for Spain on October 2. The Council of the European Union gave its approval on November 17, which in addition to providing access to 83.2 billion euros in loans and 10 billion in additional subsidies, in addition to opening the door for Spain to request the fourth tranche of funds .
The funds are linked to four Milestones within the Pension reform: the adaptation to the contribution base, the extension of the years for the calculation of the Retirement Pension, the Implementation of the Intergenerational Equity Mechanism and some new projections that They guarantee the long-term sustainability of the system.
Except for the equity mechanism, which replaced the sustainability factor of the Government of Mariano Rajoy since last January 1, all of them should have been concluded during the fourth quarter of last year. The European Commission has indicated on several occasions that it will study whether this reform guarantees fiscal sustainability once it receives the request for the fourth payment.
So far, Spain has obtained 37 billion euros from the Next Generation fund in an advance and three disbursements after complying with the reforms and investments agreed with Brussels.