Spanish CEOs worried about good management of EU Next Generation funds

According to data revealed by the 25th Global CEOS Survey, published on Tuesday by PwC, 31% of Spanish CEOs fear that short-term projects could be prioritised over long-term results, financial daily Cinco Días had reported. [Shutterstock / cunaplus]

A number of Spanish CEOs have expressed concerns over the fair and proper management of EU financial resources to help mitigate the impact of the COVID-19 crisis on the country’s battered economy, Spanish media reported.

According to data revealed by the 25th Global CEOS Survey, published on Tuesday by PwC, 31% of Spanish CEOs fear that short-term projects could be prioritised over long-term results, financial daily Cinco Días had reported.

Some 27% expressed worries about the lack of clarity in the projects to be eligible for European economic support, while 22% worried about excessive red tape in Spanish public administrations to manage the resources.

But, although the COVID-19 pandemic is taking a heavy toll on the Spanish – and global – economy, business leaders seem to be optimistic for the near future, the text of the PwC survey reads.

According to the report, 85% of Spanish CEOs expect the economy to be in a better situation in 2022 than last year, which places this PwC “confidence barometer” for Spanish CEOs at the highest level in a decade.

At the international level, 77% of the world’s top CEOs believe this year could see a clear trend toward global recovery, while 15% believe the situation will get worse.

But despite the optimism reflected in this survey, it also offers some global uncertainties and threats to the evolution of the world’s economy: cybersecurity and health risks are the most relevant, with responses of 49% and 48%, with the highly volatile macroeconomic environment in third place with 43%.

It seems that a full recovery in Spain will have to wait one more year, until at least 2023, to see pre-pandemic levels again, according to several fresh forecasts, EFE had reported.

(Fernando Heller | EuroEFE.EURACTIV.es)

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