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Valenciaport: Immediate Arrival Of EU Structural Funds Key To Economic Recovery

Valenciaport: Immediate arrival of EU structural funds key to economic recovery

Source: European Commission
Aurelio Martínez: “The aid from Europe has to arrive now. They must serve to save the sick, not to resuscitate corpses ” – October 29, 2020 He agrees with Vicente Pallardó that “it is essential that the funds that have been approved for the recovery of Europe arrive as soon as possible, or it may be late” The analyst from the Institute of International Economics (IEI)
points out that “these resources cannot be subordinated to countries that do not behave properly, they will have to be sanctioned in another way but not blocking these funds” Pallardó: “Spain has to present quality projects in infrastructure, digitization and green transformation to take advantage of these investments generating employment and wealth” The IEI analyst highlights that projects such as the new North Terminal are “essential, crucial and basic” for economic activity along the lines set by Europe Aurelio Martínez, president of Autoridad Portuaria de València (APV – Valenciaport, Port Authority of Valencia), and Vicente Pallardó, economic situation analyst at the Institute of International Economics (IEI), have demanded, at the presentation of the Quarterly Report on Economic Environment, the immediate arrival of European structural funds to promote economic activity and business recovery. “The aid has to be used to save patients not to resuscitate corpses, which is what can happen if they arrive within a year. For this reason, it is essential that the aid that has been approved for the recovery of Europe by Covid-19 arrives as soon as possible”, explained Aurelio Martínez. Along these lines, Vicente Pallardó has indicated that “we must act immediately to curb the economic and health costs of the crisis and apply the structural funds approved by Europe as quickly as possible. Every month that the arrival of these funds is delayed, more companies and jobs will be unrecoverable”. For the IEI expert, these resources “must be used quickly and well, and for this Europe must stop linking these funds to anything that does not work and, if a certain country engages in inappropriate behavior, it will have to be sanctioned in another way but not blocking the application of these resources for recovery”. Regarding the use of aid from the European Union, the IEI analyst stressed that “Spain must have quality projects, both new and those that are already underway, that generate wealth and employment in infrastructure, digitization and green transformation. It is essential to support these types of projects because otherwise we will waste a considerable opportunity. Now that Europe is committed and active, we have to be able to take advantage of it. “ Thus, he pointed out that investment projects such as the new North Terminal of the Port of València are “essential, crucial and basic since they will generate wealth and qualified employment, which is exactly what we need. Europe is telling us that it makes €140 billion available to Spain to generate infrastructure projects with high added value such as the one designed for the port of Valencia”. “The Spanish government can get into debt because the European Central Bank (ECB) is going to cover all the debt. For this reason, we must activate any project that right now could be supported by the central Executive and then avail itself of European funds “, stressed Pallardó, who continued that if the purchase of debt by the ECB is limited at some point or arrives at its peak without the European recovery funds being there “we will find business and job losses, which is why it is very important that they are working in the first half of 2021”. The IEI specialist has clarified that the funds have a term of 2021-2026 so, “you have to apply them now because if the projects are postponed we will not be able to start them since they are initiatives that need months of preparation and years to see results”. Marked by Covid-19 During the presentation of the Report, Pallardó pointed out that Spain is among the countries with the greatest drop in economic activity and cases of Covid-19 per hundred thousand inhabitants. For the IEI analyst, a careful assessment must be required because “this is the fifth epidemic of the 21st century, more are going to arrive and we must learn for the future to act agile and quickly.” Thus, he explained that investment has been falling in recent decades in the main European countries and what must be done is to promote it “because it is future growth, it is jobs and wealth for the next few years. The West has a problem generating the jobs of the future and therefore must encourage and favor investment projects ”. Source: Autoridad Portuaria de València (APV – Valenciaport, Port Authority of Valencia)

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