With an economy shattered by the COVID-19 pandemic, the Spanish government rolled out a €200 billion stimulus package.
The package includes a number of wide-sweeping provisions targeting the most affected businesses and individuals, which included:
– €100 billion of state loan guarantees for businesses to help liquidity, especially for SMEs;
– Other government commitments would amount to €17 billion;
– Easier for people to be furloughed and retain their benefits;
– Suspension of certain social security payments;
– €600 million for the vulnerable and those on social services;
– Moratorium on mortgage payments and guarantees for utilities