The regional government of the Valencian Community announces an increase of 944 million euros

PLAN REACTIVA: Ximo Puig announces a 944 million euro aid program to boost the economy Photo credit: GVA.es

THE regional government has announced a package of 944 million euros to counter the energy and energy emergency and revive the economy.

The President of the Generalitat, Ximo Puig, explained on April 7 that the 45-point Plan Reactiva was created to provide a “vigorous public response” to the situation resulting from the war in Ukraine while minimizing its effects on the Valencian Community. .

More than a third of the total – €342 million – will be used to introduce new measures while €602 million will accelerate investments.

Money for Plan Reactiva comes from the Generalitat itself, EU funds and the European Commission’s Recovery and Resilience Facility, Puig revealed.

The allowances include €45m for the self-employed hardest hit by the energy crisis and a further €50m for businesses that depend on gas but have not been included in state aid.

The Institute of Finance of Valencia (IVF) will provide 100 million euros to help companies suffering from a loss of income, while the Generalitat also intends to reduce regional taxes by at least 10%, this which will save families and businesses 71 million euros. Fishing fleets will no longer have to pay to use the ports of the Valencian Community and public transport, including the tram, will be cheaper.

“Plan Reactiva is the most important aid plan launched by the Generalitat or any other autonomous community,” Puig said. “This exceeds our Plan Resistir by 500 million euros and the Plan Resistir Plus by 647 million euros.”

Puig added that Plan Reactiva was an emergency plan that was also open to “new actors and additional measures”.

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