Spain President Approves €800 Million Economic Stimulus Plan

The monies will be used to strengthen the social economy sector through 9 lines of action involving 12 ministries. 

The President of the Government of Spain, Pedro Sánchez, explained the keys to his Strategic Project for Social and Care the Economy (PERTE), to be approved at the next Council of Ministers to configure a ‘hub’ that is a European benchmark in the Social Economy.

President Sánchez announced that the Council of Ministers would approve the Social Economy and Care PERTE next Tuesday.

His government’s eleventh strategic project presented last week aims to boost the social economy sector. It will bring together entities with social and equitable criteria, including companies, all of which have a social welfare objective, promote community employment and defend the interests of diverse groups.

Among the objectives of this PERTE is to facilitate the conversion of companies in crisis or with no generational replacement into social economy enterprises, mainly worker cooperatives and worker-owned companies.

Another of the objectives is to improve the competitiveness of social economy small and medium-sized enterprises and to promote cooperation mechanisms among them.

“We have done a lot, but we still have a long way to go in this call for the social victory of our fellow citizens. We want, above all, our fellow citizens and the most vulnerable to the consequences of the war and the pandemic to have the most dignified life possible: more dignified jobs, more dignified salaries. And that is what this progressive coalition government is working for above and beyond any adversity or difficulty that Spanish society is understandably going through”, Said President Sánchez.

Image credit – Pool Moncloa /Borja Puig de la Bellacasa)