Wednesday, 22 May 2024
BusinessThe data that reveals the outbreaks of the deployment of the Recovery...

The data that reveals the outbreaks of the deployment of the Recovery Plan in investment in technology and software

“Our dream was to digitize the tastings to bring our wine to the whole world, and we are doing it,” says a winemaker who has received 12,000 euros from the “Digital Kit” of the Recovery, Transformation and Resilience Plan, in a Government advertising video. . The digitalization of companies and the development of new activities in the technological sectors with the highest added value are among the main objectives of the European funds program (known as Next Generation) that the EU designed in 2021 in response to the pandemic, along with “ the ecological transition”.

Different statistics of the Spanish economy are revealing outbreaks of the digital transformation that is being sought. Firstly, it can be seen in the significant creation of jobs related to information and communication technologies (ICT) and research and development (R&D). Also, in the investment figures in “intellectual property” collected by the National Accounting of the INE (National Institute of Statistics). And finally, the same evidence is obtained from the strong growth in sales of “equipment and software” by companies in our country, according to data from the Tax Agency.

This last statistic tells a story of authentic transformation of Spain’s economy. Income from the most innovative sectors, related to computing, science or technical and information services, has skyrocketed in the last two years. Specifically, the investment index in “equipment and software” has climbed to historical highs, exceeding the pre-pandemic level by 30 points, taking December 2019 as a reference, and with data until the end of 2023.

In more detail, manufacturers of computer, electronic and optical products have increased their gross operating profit (a way of accounting for profits) by 9% in 2023 compared to 2019. Programming, consulting and other computer-related activities companies have They have done 24%. Information services companies, 4%.

These numbers have carried over to the job market. Employment grew in 2023 in the vast majority of economic activities, although with differences. Those that generated the most jobs last year are led by professional, scientific and technical activities, with 165,000 more workers (+15%), something very relevant as it is a sector with high added value and generally better conditions, which that distances Spain from the typical portrait of “a country of waiters.”

This evolution cannot be explained without the Recovery Plan. This same Thursday, the BBVA Research analysis center published a report that concludes from the beginning of the Next Generation EU program and until the end of 2023 “contracts would have been put out to tender and subsidies financed with European funds for an amount greater than 70,000 million euros , which represents more than 88% of the total initially planned and in the transfers of the Addendum [la ampliación del Plan]”.

“On the other hand, they would have been resolved, and therefore it is money that is already available to families and companies, more than 33.5 billion euros, which is equivalent to 42% of the total of the Plan,” continue the BBVA Research experts. “These figures are in line with what was published by the Government in its latest Report on the execution of the Recovery Plan (December 2023),” they add.

The deployment of the Recovery Plan

Seen another way, it is estimated that until 2023 the funds would be financing more than 12,500 contracts with companies and families. For their part, almost 500,000 companies and families would have been beneficiaries of the subsidies that come from the same Plan.

“Unlike other European funds, [en esta ocasión] the beneficiary is the State. In this way, investments, projects and reforms are decided and designed by central governments, through their Recovery and Resilience Plans (plans that amount to 79.87 billion euros),” explains the analysis center. The rest is a package of loans of up to 83,000 million at favorable conditions, although its deployment will depend on demand.

“In Spain, being a decentralized country, the autonomous communities and local entities participate in the execution of the Plan for the development of investments and reforms that fall within their powers. In this sense, territorial treasuries will receive conditional funds in the amount of 31.2 billion euros for the execution of the spending programs that correspond to them. Additionally, the State would be channeling 29.4 billion euros through other dependent public organizations and entities,” he continues.

The Plan would be destined mainly to promote the ecological transition – 40% of the total planned – and the digital transformation – 30%. One of the specific programs for this last objective is the “Digital Kit”. Its implementation was the first measure adopted of the SME Digitalization Plan 2021-2025.

This program aims to promote the digitalization of small businesses, microbusinesses and the self-employed. The program has a budget of 3,067 million euros, and four calls have already been launched for an amount of 1,700 million euros. “Until mid-February 2024, more than 298,000 companies and self-employed workers would have benefited from the program, with an investment of around 1,380 million euros,” concludes BBVA Research.

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