Spain has approved a €16bn “shock plan” to address the fallout from the war in Ukraine, as prime minister Pedro Sánchez seeks to prevent the conflict from blowing the pandemic-battered economy further off course.
The measures, which are due to come into force for three months from April 1, include fuel price cuts that Madrid hopes will defuse an unofficial transport strike that began this month.
The government also expects approval from the EU for plans to reduce soaring electricity costs, which have been pushed up by high gas prices since the run-up to the war, hitting both industry and households.
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