The People's Party (PP), Spain's main opposition party, has launched a strong critique against the government's recently announced sovereign fund named "España Crece" (Spain Grows). Alberto Nadal, the economic deputy secretary of the PP, accuses the government under Prime Minister Pedro Sánchez of creating this financial vehicle to cover up its failures in managing European recovery funds. He described the fund as mere "smoke" and "propaganda," arguing that it serves as a public relations effort rather than a practical financial solution.

Nadal emphasized that the sovereign fund is likely to increase the country's debt, suggesting that it is not a sustainable solution for the economic challenges Spain faces in the wake of the COVID-19 pandemic. Moreover, he asserted that should the PP return to power, they would reevaluate and potentially resize the fund to address what they perceive as its inadequacies. This criticism underscores the ongoing political tension around economic recovery strategies in Spain.

The discussion around the España Crece fund is reflective of the broader debates in Spain regarding fiscal responsibility and the effectiveness of government programs supported by European funding. As the country navigates its economic recovery, the opposition's stark warnings and alternatives will likely influence public perception and the upcoming political landscape.