{"id":38884,"date":"2020-03-17T20:53:57","date_gmt":"2020-03-17T19:53:57","guid":{"rendered":"https:\/\/www.cde.ual.es\/?p=38884"},"modified":"2020-03-17T21:06:05","modified_gmt":"2020-03-17T20:06:05","slug":"spanish-government-will-mobilize-up-to-200-billion-euros-almost-20-of-spanish-gdp-to-address-the-economic-and-social-impact-of-the-coronavirus","status":"publish","type":"post","link":"https:\/\/www.cde.ual.es\/en\/spanish-government-will-mobilize-up-to-200-billion-euros-almost-20-of-spanish-gdp-to-address-the-economic-and-social-impact-of-the-coronavirus\/","title":{"rendered":"Spanish Government will mobilize up to 200 billion euros, almost 20% of Spanish GDP, to address the economic and social impact of the coronavirus"},"content":{"rendered":"
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The President of the Government, Pedro S\u00e1nchez, appeared after the meeting of the Council of Ministers that approved the largest economic resource mobilization in democracy. They will be allocated to the most vulnerable families, workers, companies, and to research for developing a vaccine against COVID-19.<\/p>\n

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El Consejo de Ministros ha aprobado un\u00a0Real Decreto-ley de medidas urgentes extraordinarias\u00a0para hacer frente al impacto econ\u00f3mico y social del COVID-19. Esta norma refuerza las iniciativas implementadas en el\u00a0plan de medidas excepcionales\u00a0acordadas el jueves pasado.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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The Council of Ministers has approved a Royal Decree-Law on extraordinary urgent measures to deal with the economic and social impact of the COVID-19 issue. This regulation reinforces the initiatives implemented in the plan of exceptional measures agreed last Thursday.<\/p>\n

Aid to the most vulnerable families<\/h3>\n

The President has announced that the Government will allocate 600 million euros to finance basic social services in the Autonomous Communities and local authorities, with special attention to home care for the elderly and dependents.<\/p>\n

In addition, protection will be extended to energy and water supplies, and telecommunications services will be guaranteed.<\/p>\n

Employment Protection<\/h3>\n

The set of measures intended to strengthen employment protection, as set out by the President, envisages that salaried workers can adapt or reduce their working hours to meet the conciliation needs derived from this crisis. Likewise, teleworking is established as a measure of flexibility, when circumstances allow it.<\/p>\n

Temporary workforce adjustments will be managed through the Temporary Employment Regulation Schemes ( ERTES by their Spanish acronym), which will benefit all workers. “The ERTES caused by the coronavirus crisis will be considered force majeure and, in addition, workers will be entitled to unemployment benefits, even if they do not meet the requirement of prior contribution,” explained Pedro Sanchez.<\/p>\n

Cash flow to companies<\/h3>\n

The Government has approved the creation of a public guarantee line worth up to 100 billion euros, which will make possible the movement of between 150 and 200 billion euros in the economic system<\/p>\n

Moreover, additional 2 billion euro in guarantees have been agreed for export companies, the restructuring of loans to farms affected by drought will be facilitated and the implementation of programmes to support digitalisation will be accelerated.<\/p>\n

The Council of Ministers has approved a Royal Decree-Law on extraordinary urgent measures to deal with the economic and social impact of COVID-19. This regulation reinforces the initiatives implemented in the plan of exceptional measures agreed last Thursday.<\/p>\n

Aid to the most vulnerable families<\/h3>\n

The President has announced that the Government will allocate 600 million euros to finance basic benefits for social services in the Autonomous Communities and local authorities, with special attention to home care for the elderly and dependents.<\/p>\n

In addition, protection will be extended to energy and water supplies, and telecommunications services will be guaranteed.<\/p>\n

In order to guarantee the right to housing, a moratorium on mortgage payments is established for debtors in a particularly vulnerable situation: “No person in a difficult economic situation shall lose his or her home. In this crisis, no one will be evicted from their home”.<\/p>\n

Resources for developing a vaccine<\/h3>\n

Pedro Sanchez underlined the Government’s commitment to reinforcing scientific research to develop a vaccine for COVID-29. The Government will provide 30 million euros to the Spanish National Research Council and the Carlos III Health Institute.<\/p>\n<\/div>\n

Update of the measures because of the alarm state<\/h2>\n

The Council of Ministers has modified the Royal Decree that declares the state of alarm to meet the needs detected since its approval last Saturday.<\/p>\n

This will allow health and veterinary care facilities to be opened to the public and limit the activity of hairdressing salons to home services. The restriction on the movement of persons on public roads is extended to areas of public use, such as beaches, and it is emphasized that activities that are permitted outside the home or workplace must always be carried out on an individual basis, unless persons with disabilities, minors and the elderly, are accompanied or there is another duly justified reason.<\/p>\n

Responsibility and social organization<\/h2>\n

The President has conveyed the Government’s grief for those who have died from the pandemic, its affection for family and friends, and its wishes for recovery to those who have tested positive.<\/p>\n

Pedro Sanchez has insisted that it is necessary to continue attending to the health recommendations in order to stop the now rising contagion curve, control it and then bring it down. “Long and hard days lie ahead, we are living them now, but we must remain calm and now, more than ever, take responsibility,” he added.<\/p>\n

More Information<\/h3>\n

La Moncloa: Full Press Release<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The President of the Government, Pedro S\u00e1nchez, appeared after the meeting of the Council of Ministers that approved the largest economic resource mobilization in democracy. They will be allocated to the most vulnerable families, workers, companies, and to research for developing a vaccine against COVID-19. 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