LISBON, Portugal (AP) — Spain’s prime minister unveiled a major plan Wednesday to boost his country out of recession by spending 140 billion euros ($162 billion) of European Union aid to reshape the economy, with the aim of creating 800,000 jobs over the next three years.
The program is a response to the sharp downturn caused by the coronavirus pandemic and its worldwide disruption of economies. The plan focuses primarily on getting Spain to transition to green energy and a digital economy, which will take up about 70% of the financing.
“We have to turn this heavy blow into an opportunity,” Prime Minister Pedro Sánchez said, referring to the pandemic’s far-reaching effects on society and the economy. “This is the challenge of our generation.”
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