More Than 800,000 New Jobs Will Be Created Over The Next Three Years In Spain

More Than 800,000 New Jobs Will Be Created Over The Next Three Years In Spain

In Spain, more than 800,000 new jobs will be created over the next three years thanks to help from the European economic recovery program following the coronavirus pandemic. This was announced on Wednesday by Prime Minister Pedro Sánchez. The country is to receive a total of around € 140 billion from the recovery plan for Europe between 2021 and 2026. The plan should be seen as "a roadmap for the modernization of our country over the next six years ... (with the aim of) turning a hard pandemic into a huge opportunity," Sánchez said. The government will spend 72 billion euros between 2021 and 2023 to finance "projects that can be implemented over three years and that will support modernization and job creation," the prime minister said. Almost a third of the total amount is to go to the digital transformation, another 37 percent the government wants to invest in the development of green energy sources in accordance with the goals of the European Commission (EC). Spain is one of the countries most affected by the coronavirus pandemic in Europe. More than 825,000  people were infected with COVID-19 and more than 32,000 people died because of the infection. The pandemic has hit the Spanish economy hard, which is heavily dependent on tourism. According to a forecast released by the government on Tuesday, the country's gross domestic product (GDP) will fall by 11.2 percent this year. In July, European Union leaders agreed to set up a post-coronary reconstruction fund, which will consist of grants of € 390 billion and loans of € 360 billion. The countries will borrow a total of 750 billion euros together.