The Spanish government has prepared a step-by-step program to improve the state of the economy which has been hit by the coronavirus pandemic. According to Spanish Prime Minister Pedro Sanchez, the authorities intend to spend 140 billion euros on this recovery program that will be taken from EU funds. As part of this project, it is planned to start a transition to alternative energy and the digital economy. Funding for this transition will take 70% of the total amount.According to Pedro Sanchez, they plan to achieve an annual GDP growth of 2.5% over the next three years. Also during this period, the government aims to create over 800,000 jobs.According to the forecast of French experts, the pace of recovery of the European economy will slow down by the end of the year due to the increase in new cases of COVID-19. Also, restrictive measures can negatively affect the economy.
Also, Head of the ECB Christine Lagarde said that the measures taken at the beginning of the economic crisis in general helped to maintain the country's balance. This helped create the conditions under which banks and other institutions can support economic recovery.The World Bank estimates 115 million people will be in extreme poverty by the end of this year due to the coronavirus pandemic.
