Spanish Prime Minister Pedro Sanchez announced Tuesday his government has approved a 200 billion euro (almost $220 billion) aid package to help tackle the economic impact of the coronavirus pandemic.

The package amounts to about 20% of the country’s GDP and is “the biggest mobilization of economic resources in Spain’s history,” Sanchez said during a news conference.

“We have to fight this virus in the economic front, to win against the virus. We must also protect our jobs, companies, and families with a social and economic shield so that no one is left behind. That’s why, today, we approved a very important decree [for an aid package] the biggest that has ever been approved in the history of our democracy,” he said on Tuesday.

Of that total amount, 600 million euros ($660 million) will be put into basic social services, with a special focus for health assistance for the elderly and other vulnerable groups.

The government is also facilitating the protection of the water, electricity and communication providers “to guarantee essential public services.”

“We are also guaranteeing the right to housing for those with more difficulties. Nobody in a touch economic situation will lose their house,” the prime minister said.

On the industry front, Sánchez promised that independent workers may receive subsidies if they see their workload reduced. He also appealed to business owners not to fire their employees.

Source: CNN.News


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.