Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.
Factsheet for measure ES-2020-14/648 – measures in Spain
|Country||Spain , applies nationwide|
|Time period||Temporary, 31 March 2020 – 30 September 2022|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Deferral of payments or liabilities
|Author||Oscar Molina (UAB) and Eurofound|
|Measure added||15 April 2020 (updated 22 July 2020)|
It is necessary to continue supporting companies in the tourism sector. The COVID-19 crisis has led to the total paralysis of the tourism sector: from the limitation to the free movement of people and the limitations on national and international connectivity to destinations, to the closure of tourist establishments, including accommodation, restaurants and other value chain companies.
In order to ensure the liquidity and, therefore, the viability of the tourist companies, the payment of interest and amortizations corresponding to the loans granted by the Secretary of State for Tourism in the framework of the Emprendetur R + D + i Program, the Emprendetur Young Entrepreneurs Program and the Emprendetur Internationalization Program.
Interest payments and amortizations corresponding to loans granted by the Secretary of State for Tourism are suspended without prior request and for a period of one year. This measure only applies to those companies (irrespectively of size, activity etc.) that asked for these loans.
Consequently, the payments for interest and amortizations of the referred loans that should be made by the borrowers as of the entry into force of this royal decree-law, will be due on the same date of the year following the one that appears in the resolution. of granting the loan, without implying the accrual of additional interest.
No data available yet.
|Does not apply to workers||
Sector specific set of companies
||Does not apply to citizens|
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Role||No involvement as case not in social partner domain||No involvement as case not in social partner domain|
|Form||Not applicable||Not applicable|
Social partners' role in the implementation, monitoring and assessment phase:
Social partners were not involved in the design, implementation or monitoring of this measure.
No social partner's views or reactions to this measure have been reported.
|Economic area||Sector (NACE level 2)|
|I - Accommodation And Food Service Activities||I55 Accommodation|
This case is not occupation-specific.
Eurofound (2020), Suspension of interest payments from tourist companies for loans from the EMPRENDETUR programme, measure ES-2020-14/648 (measures in Spain), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/ES-2020-14_648.html
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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.