Overview
- Brussels approved Spain’s final addendum to the Recovery Plan, validating a redesign meant to speed the absorption of NextGenerationEU funds before end‑2026.
- The government will ask for the sixth disbursement at the end of January, targeting €7.3 billion in the first half of 2026, and plans a seventh request in August for €26.53 billion.
- The addendum cuts pending milestones and targets from 336 to 221 and reformulates 160 measures to reduce administrative bottlenecks.
- Spain trims its use of EU loans to €22.8 billion after renouncing roughly €60 billion, reshaping the plan’s balance toward grants.
- Seventeen planned laws are removed, with five replaced by lower‑rank measures, but approval is still required for lobby‑transparency rules, changes to the securities market law and diesel tax equalization before the 31 August 2026 milestone deadline, with transfers possible until 31 December.