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EU recovery funds to boost Spain GDP by 2 percentage points, PM says

MADRID, Aug 31 (Reuters) - The 140 billion euros ($166.84 billion) Spain will receive from the European Union recovery fund and the way it will be spent by the Spanish government should add two percentage points to the economic growth in the long run, Prime Minister Pedro Sanchez said on Monday.

Spain, one of the worst-hit countries in Europe by the coronavirus pandemic, is due to receive 140 billion euros from the EU. A little more than half, 72.7 billion euros, will be grants and the rest will be repayable loans. ($1 = 0.8391 euros) (Reporting by Belen Carreño and Inti Landauro, editing by Andrei Khalip)

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