Spain sees risk in possible delay of EU rescue funds, would issue debt

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The Spanish government would issue debt to compensate for any potential delay in the approval and disbursement of EU rescue funds, which represent a risk for the economic recovery, Economy Minister Nadia Calvino told reporters on Thursday.

Spain is counting on the funds to launch a recovery plan as early as January 2021, Calvino had said earlier this week.

Spain is due to receive around 140 billion euros ($164.29 billion) in grants and loans out of the EU’s 750-billion-euro coronavirus recovery package.