SpainSpain has officially closed the execution window for the largest economic stimulus program in its democratic history: the Next Generation EU funds, which totaled €163 billion after loan approvals in 2023, though the government ultimately abandoned most of these loans. According to a joint analysis by AFI and Funcas, these funds contributed between 10% and 14% to Spain’s average annual GDP growth from 2021 to 2025, peaking at nearly 25% in 2023. Public R&D spending tripled between 2020 and 2023, reaching €11.117 billion, recovering levels last seen in 2009. This investment has led to increased productivity per hour, making Spain the only major European economy improving its trend compared to pre-pandemic levels. However, private investment remains 3.3% below pre-pandemic levels as of late 2025. Despite this progress, the social focus has been overshadowed by political tensions, shifting public discourse away from substantive issues. The Fundación Cotec report highlights a 45.8% increase in technological sector employment since 2015, nearly double the overall employment growth rate. Technological activities now account for 6.8% of total employment, up from 5.9% in 2015, representing
Bias read (Center): The article presents data-driven analysis on economic reforms and their impacts, avoiding overtly partisan language or selective sourcing. It discusses both achievements and remaining challenges without favoring any political side.
