Abstract. The article gives an analysis of the key challenges facing the first leftwing coalition government in Spain, led by socialist leader Pedro Sanchez, which was formed as a result of lengthy negotiations following the general parliamentary elections in November 2019, the fourth in a row over the past three years. The new cabinet is tasked with ensuring stable and high-quality economic growth, resolving the political and institutional conflict in Catalonia and reforming the «State of Autonomies», resolving a number of serious social problems, especially of the youth, overcoming social, territorial and gender inequalities, significant political and ideological delimitations in the society. Solving the urgent tasks of the country will not be easy. In the new government, the socialists will have to act with an eye out for their coalition partners — the left-wing populist party «We Can» (Podemos). The views of this political party on the country's foreign policy and socioeconomic strategy differ from those approaches that the Spanish Socialist Worker’s Party has traditionally adhered to.