Spanish Congress approves €5 billion package to shield economy from Middle East conflict

The Spanish Congress has ratified a government decree introducing emergency fiscal measures in response to the Middle East war.

Economy Minister Carlos Cuerpo described the €5 billion package as "the most ambitious approved in the European Union" and said it aims to "protect and prepare" Spain's economy from the conflict’s fallout.

The plan includes steep cuts in energy taxes, including a reduction of VAT on fuel, electricity, and gas from 21% to 10%.

The vote on Thursday passed with 175 votes in favor, 33 against, and 141 abstentions.

The decree was supported by the governing parties – the Socialists and Sumar – as well as ERC, Junts, Bildu, PNV, Compromís, BNG, CC, and UPN. Vox voted against, while the PP and Podemos abstained.