Euro Weekly News - Mallorca 25 February - 3 March 2021 Issue 1860

Page 1

The people’s paper ISSUE NO. 1860 1857

4 - Feb 25 10 February - 3 March 2021 2021

News

MALLORCA • WWW.EUROWEEKLYNEWS.COM

FREE • GRATIS

€11 BILLION BOOST

SANCHEZ has announced a new €11 billion fund for tourism, hospitality and small businesses. Spain’s President Pedro Sanchez said the government “will approve an additional package of €11 billion to con‐ tinue supporting companies, SMEs and the self‐employed.” In this way, he said, “we will strengthen their solvency so that they can start the recovery in full capacity. We have the vocation to leave no one be‐ hind and always look ahead.” The government hopes the rescue package will provide a lifeline to those employed in the tourism and hospitality sectors, and small businesses. In a speech at the Congress on Wednesday, February 24, Sanchez said that these re‐ sources will seek to “strength‐ en the solvency of the balance sheets,” facilitate the return of the sectors’ activity, and al‐ low for “the necessary invest‐

ments” to be made for the hiring of workers. Sanchez highlighted the fact that, since the beginning of the pandemic, the govern‐ ment has committed 20 per cent of GDP resources in an exercise of protection never seen before, which he said in‐ cluded funding ERTE and transfers of financial support to autonomous communities. “The payment of ERTE salaries and benefits alone amounts to some €40 billion of direct aid,” he said, adding that €24 billion of aid has been given to autonomous communities to reinforce

SANCHEZ: Also assured the creation of ‘quality employment’ in the next three years.

healthcare among other things. Sanchez assured that the creation of “quality employ‐ ment” will be one of the main eligibility criteria of all the projects of the new Recovery, Transformation and Resilience Plan, and estimates around 850,000 jobs will be created in the next three years. During this period, the President said that the coun‐ try will receive around €80 bil‐ lion in direct transfers, out of a total of €140 billion within the recovery programmes agreed in the European Union.


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.