More than 53.6 billion euros has already flowed into the Spanish economy under the Recovery Plan

The Minister for Economy, Trade and Business, Carlos Cuerpo, at the Joint Committee for the European Union, in the Lower House of Parliament

The Government of Spain has presented the Fifth Implementation Report of the Recovery, Transformation and Resilience Plan. Spain is one of the most advanced countries in the European Union in the deployment of NextGenerationEU funds. By May 2025, our country had received more than 48 billion euros in transfers, managing the second largest allocation of funds in the EU and is the country with the second highest number of milestones and targets met. This leading position will be maintained in the coming weeks once the evaluation of the fifth disbursement is completed.

"The NextGenerationEU funds are modernising our economy, helping to improve the welfare of citizens," said the Minister for Economy, Trade and Business, Carlos Cuerpo, during his appearance before the Joint Committee for the European Union, in the Spanish Lower House of Parliament, on the progress and advances of the Recovery Plan.

Transformative investments that reach across Spain

In terms of execution of the funds, calls for 79.195 billion euros have been published, of which 53.646 billion euros has already been resolved, with more than 40% going to SMEs. The Plan has funded flagship projects such as:

• Modernisation of 550,000 hectares of sustainable irrigation in 15 autonomous communities, with an annual saving of 180 hm³ of water.
  
• Some 730,000 SMEs benefiting from the Digital Kit and 15,000 of the Consulting Kit in 85% of the municipalities.
  
• Some 300 million euros to 30 pioneering renewable hydrogen projects and 1.3 billion to 12 IPCEI Hy2Use projects.
• Construction of 30,000 public housing units for social rental and acquisition of 851 pieces of high-tech hospital equipment.
• Creation of 383,000 new places in vocational training and 36,000 in early childhood education.
• Some 270,000 electric vehicles and recharging points through the MOVES programme.
• Extension of very high speed broadband to 95% of the population and 7,700 municipalities.

More than 19.1 billion euros awarded through the PERTEs

The 12 Strategic Projects for Economic Recovery and Transformation (PERTE) are a key tool for the agile and efficient management of funds, reinforcing those projects that clearly contribute to the transformation of the Spanish economy. These projects combine transfers, loans and reforms.

Among the most outstanding PERTEs are the Electric and Connected Vehicle PERTE, which is transforming the entire automotive value chain; the Chip PERTE, which strengthens European technological autonomy; the Circular Economy PERTE, which drives the transition towards sustainable production models; and the New Language Economy PERTE, which harnesses the potential of Spanish as a strategic asset.

According to the latest available data, more than 25.6 billion euros has been launched, of which 19.1 billion euros has already been resolved. This is in addition to the availability of loans in excess of an additional 17 billion euros.

Economic and social impact

The deployment of the Recovery Plan has boosted economic growth and employment in Spain. In 2024, Spanish GDP was 2.6% above the level that would have been seen without the Plan, and the impact is estimated to reach 3.4% in 2031.

By 2031, the Ministry of Finance estimates that the reforms will contribute an additional 3 points to GDP, compared to 0.4 points generated by investments, consolidating themselves as the main structural legacy of the Recovery Plan.

Progress in the green and digital transitions

The Plan has also favoured progress in ecological transition (renewables already account for 57% of electricity generation, compared to 38% in 2019), digitalisation, gender equality and social cohesion, with improvements in indicators such as the reduction of early school leaving (from 17% in 2019 to 13% in 2024) and the temporary employment rate (from 26% to 16%).

Lending to the private sector through financial instruments

In the last year, innovative financial instruments have been initiated to channel 83.2 billion euros in loans to the private sector, with funds managed by the ICO, the EIB, SETT and COFIDES. Of particular note are the ICO facilities for green transition and affordable housing (more than 34 billion euros), the Regional Resilience Fund (20 billion euros) and other social impact and co-investment funds, which have already approved operations for more than 4 billion euros and have a pipeline of an additional 6.5 billion euros.

More than 29.104 billion euros managed by the regions

The Recovery Plan is governed by a co-governance model with the Autonomous Communities in both investment decision-making, through Sectoral Conferences and transfers for the management of funds within the framework of their competences.

As of 31 May 2025, more than 29.104 billion euros has been allocated to the autonomous communities for the direct management of funds in areas such as education, health, housing and employment. Andalusia (€4.328 billion), Catalonia (€4.339 billion) and Madrid (€3.256 billion) are the regions with the largest allocations.

Reform programme to modernise the economy

As part of the implementation of the Recovery Plan, since 2021, Spain has promoted an ambitious programme of structural reforms to modernise the productive and administrative fabric, improve productivity and advance in sustainability. Recent reforms include the Organic Law on the Right of Defence, the Law on the Efficiency of the Public Justice Service and a new tax reform that strengthens the financing capacity of the Welfare State. In addition, key steps have been taken in the framework of sustainable finance, with the publication of the Green Paper to accompany companies in their ecological transition. The momentum has been maintained in 2025 with the passing of the Food Loss and Waste Prevention Act, a pioneering piece of legislation that reinforces the sustainability of the food chain with mandatory prevention plans, prioritising the donation of surpluses and promoting efficient food use.

All available information is publicly available through the official website of the Recovery Plan, the State Procurement Platform, the National Grants Database and the ELISA platform of the Ministry of Economy, Trade and Business.

Non official translation