Spain is to undertake several initiatives to help stimulate the economy and to reduce the tragic unemployment rate.
A key measure will be the reduction of corporation tax from 30% down to 25%.
Although the country managed finally to crawl out of recession last October, the unemployment rate has not dropped. At nearly 26%, it is the second highest in Europe after Greece.
Shockingly, more than half of the young potential workforce under 24 has not found work.
"The plan will include investments totalling €6.3bn, of which 2.67bn will come from the private sector and 3.63bn from the public sector", said Prime Minister Mariano Rajoy. It will be unveiled this coming Friday.
Reports suggest the package will include credits to small and medium-sized firms, and investments aimed at research and development, transport and energy saving.
From January to March this year the economy benefitted from its best paced growth since as far back as 2008. GDP was up by 0.4% during the quarter.
