Madrid, December 27 (QNA) – Spanish Prime Minister Pedro Sanchez announced today a package of new measures, worth EUR 10 billion (USD 10.65 billion) to counter the effects of inflation in his country in 2023.
In a statement, Sanchez said that the package includes a grant of EUR 200, disbursed once to about 4.2 million families, with an annual income of EUR 27 thousand, in addition to the abolition of value-added tax on basic foodstuffs, and the extension of tax cuts on energy bills for the first half of next year.
Sanchez added that the aid packages offered by the Spanish government so far have helped the country increase economic growth this year, which he estimated at more than five percent, higher than the Bank of Spain’s latest forecast of 4.4 percent.
This is the third large package in 2022, bringing the total aid approved by the Spanish government since early this year to EUR 45 billion.
Like other European countries, Spain is facing a cost-of-living crisis, exacerbated by the Russian war in Ukraine, which led to a rise in energy prices. (QNA)