Spain prepares economic support plan amid energy price spike
ABC News
Spain’s government is readying a package of emergency economic measures worth 6 billion euros in direct aid and tax breaks and 10 billion euros in loans for families and businesses affected by the fallout from Russia’s invasion of Ukraine
MADRID -- Spain's government is readying a package of emergency economic measures worth 6 billion euros ($6.6 billion) in direct aid and tax breaks and 10 billion euros ($11 billion) in loans for families and businesses affected by the fallout from Russia’s invasion of Ukraine, Prime Minister Pedro Sánchez said Monday.
The emergency plan aims to “protect economic growth and jobs” and is to be unveiled after the government’s weekly Cabinet meeting Tuesday, Sánchez said in a speech to a business conference in Madrid.
“This emergency plan in response to the war (in Ukraine) includes a set of measures that will protect economic sectors and Spaniards who are being most affected,” Sánchez said.
Like the rest of Europe, Spain has been struggling since last year with soaring energy prices, with households and businesses struggling to pay electricity bills. Since Russia invaded Ukraine last month, oil prices have spiked, and Spain's transport and farm sectors have demanded help with crippling gasoline prices.
