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By the end of 2022, Spain had called tenders and grants for 43.7% of the Next Generation EU (NGEU) funds allocated thus far. If we compare the volume of calls (35.83 billion euros) with the amount awarded as of year-end (16.35 billion euros), we arrive at an implementation rate of 45.6%, with more than half of the volume called yet to be allocated. Of the volume already awarded, almost three-quarters (73.4%), or 12 billion euros, have gone to the business community. Of the aid awarded to Spanish businesses, more than half has gone to large enterprises (59.3% of total), with SMEs receiving 40.7%. By sector, the services sector has been the biggest beneficiary so far (46.9% of the total), followed closely by construction (41.6%). Within services, the information and communication sector (15.4% of the total) and wholesale and retail trade (12.1%) have been the biggest recipients. In manufacturing, a noteworthy 3.6% of the aid has gone to the automotive sector. Under the current scenario, Spain will have to accelerate the implementation process if it is to use the rest of its non-reimbursable funds by the August 2026 deadline.

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