Among the many tasks that the new Spanish government will have, there is the priority of improving the competitiveness, viability and productivity of our SMEs as an economic engine that sustains the well-being and social services of our country through the generation of employment, the wealth creation and tax payments.
A key and strategic element to achieve this milestone is the European Next Generation EU funds. The investments that these resources facilitate must serve to attract companies and strategic and innovative projects for our economy, as well as to take steps forward towards digitization and the energy transition, key for sectors such as, for example, the industrial sector.
After the result of the polls on July 23 in the general elections and given the non-configuration of an immediate government in Spain, I would like to remind you that there are issues in relation to these resources that are pending closure with Brussels, which require commitments by part of the state government. Without a horizon of constituting a new government soon and given the risk that new elections could be called, these commitments can be difficult to make.
On the other hand, they can also be difficult for Brussels to accept, since the European Commission has to rule this August on whether or not to approve the Spanish addendum for the deployment of investments. If accepted, Spain will be able to mobilize 90,000 million euros from the Recovery Plan until 2026, apart from the 7,700 million euros referring to additional transfers, the 84,000 million euros in loans and almost 2,600 million euros from the RePowerEU program.
Likewise, in recent months we have detected a slowdown in the deployment of European funds and, before the call for general elections, there was confidence in an acceleration in the second part of the year.
The new Executive, which we trust will be established soon, will have to guarantee this fact. You will also have to start working on the Budgets for 2024 and it will be essential that the same aspects of the previously negotiated addenda be included.
Companies need certainty and feel more comfortable with a stable political framework. For all this, and for the proper functioning of society and the economy in general, political stability is so important that we will only have the configuration of a government that is the result of negotiations and dialogue for the benefit of the progress of our country.