New times for European regional policy: Challenges

The Spanish and Andalusian sphere New times for European regional policy: Challenges in the  economic policy experts on the roadmap for Andalusia was clear: promote its territorial articulation through the deployment of physical infrastructure, which would act as catalytic tools for the progress of the region, to later benefit from the full completion of the internal market. By registering a GDP per capita less than 75% of the community average, Andalusia joined the group of Objective 1 regions , with marked structural deficiencies and recipients of European funds to promote their convergence. Almost four decades later, it is unquestionable that this financial injection has promoted and reinforced the economic transformation of the region and has also been a priceless spring in the face of moments of uncertainty such as the 2008 financial crisis or sovereign debt. However, since the Covid-19 pandemic we are witnessing a change funds .

These read the recent crisis in

Terms of opportunity, forming the largest financial stimulus package ever  to refound the EU through an unprecedented Recovery Plan. The European Commission creates a protective shield over countries  USA Phone Number Data financed by the issuance public debt, saving the weakest economies from speculative attacks and returning to European values ​​of solidarity. Furthermore, the virtuous circle of . Keynesian multiplier effects is  which is not negligible since in the. Andalusian case, estimates were that each euro spent on regional policy could generate a return of 1.5 euros. In large numbers, the European Recovery Plan amounted in constant  prices  actions had to be d in national plans, such as the Spanish Recovery, Transformation and Resilience Plan.

This amounted to around

Billion euros, the vast majority of which was directed towards aid and loans from the Recovery and Resilience Mechanism to be distributed between Australia Phone Number List  along with another smaller resource such as REACT-EU, similar to the structural funds. The management of these items, although reception, must have the participation of regional and local administrations; and precisely this is where pitfalls arise, in the so- co-governance. Conditionality also takes on special importance , since the disbursement of funds is subject to the implementation of structural adjustments. Such as the reform of the labor market, the pension system or more than 100 other reforms in the Spanish case. The national plan is  into 4 transversal axes to which anto the plan; raising the effective employment, private consumption and the foreign sector.