Top Stories

autonomous communities

Spain

In Spain 8th July 2026

Fourteen out of fifteen autonomous communities reject new financing model to be approved by government with sole backing of Catalonia

Two autonomous communities governed by the PSOE—Asturias and Castilla-La Mancha—have announced they will vote against the new regional financing system, leaving the Government to attempt to pass it with the support of just a single region, Catalonia, out of the 15 common-regime territories. With this stance, combined with that of the regions governed by the PP, there are now 14 regional finance ministers (consejeros) opposing the new financing model. The…

Montero

In Spain 15th January 2026

14 of 15 Autonomous Communities Reject New Financing Model Agreed Upon by Sánchez and Junqueras

The Minister of Finance, Mª Jesús Montero, met yesterday at the Fiscal and Financial Policy Council with the finance ministers of all autonomous communities—with the exception of the Basque Country and Navarre, which are privileged with an “economic agreement and quota” system (concierto y cupo) similar to what Catalan pro-independence supporters now aspire to achieve—to explain the new financing system agreed upon by the Government and the leader of ERC,…

spain savings rate

In Spain, Spanish economy, Spanish Politics 1st June 2023

Autonomous regions facing significant budget constraints

Jakob Suwalski and Giulia Branz (Scope Ratings) | Budget constraints faced by the autonomous regions make policy adjustments and new investments difficult. By the end of 2022, none of the regions met the 13% debt-to-GDP threshold in their fiscal framework, while the aggregate fiscal deficit worsened to 1.1% of GDP from 0.1% in 2021, contrasting with the reduction in the deficit of the general government, i.e. the central government plus…

autonomous regions

Spanish economy 13th September 2021

Spanish Regions Ahead Of Central Government In ESG-Linked Bonds Funding

Last week the Spanish Treasury made its debut in green debt issuance. However, the autonomous communities are ahead of the pack. As told in an analyis of Scope Ratings, sovereign lending became the primary funding source for Spanish regions as the euro area debt crisis hampered access to capital markets. Madrid, the Basque Country and Andalusia have come to market this year, raising so far an aggregate 3.5 Bn euros in ESG-linked bond.

autonomous regions 1

Spanish economy 3rd April 2018

Spain’s Autonomous Regions Return To The Markets

Although most of Spain’s public debt belongs to the central Administration, the debt held by the 17 autonomous regions is by no means insignificant: it accounts for 25% of Spain’s GDP, way above the 16% it represented just five years ago. Many regions are now returning to the debt markets.

No Picture

Spanish economy 25th July 2012

The chart of the Spanish regions’ debt

MADRID | The chain of default warnings is getting larger. If the regions of Murcia and Catalonia confirm they need help from the €18-billion central fund to repay its debt maturities, as Valencia explicitly did on July 20, the autonomous bailout would reach so far €7.7 billion. Of them, €6 billion could be made available with almost immediate effect, as Loterías del Estado would be the lender. The regions’ short-term…

z

Spanish economy 12th March 2012

Worrying facts about the Spanish deficit

By Juan Pedro Marín Arrese, in Madrid | The way the data on the Spanish deficit snowballed from 6% in mid-December to 8% a few weeks later and to 8.51% now, has led many to raise their eyebrows in utter disbelief. Even allowing for some benign neglect shown by the out coming government, such a huge deviation adds little credit to budgetary figures outside central administration boundaries. It not only proves…

No Picture

Spanish economy 29th November 2011

Spain’s regions obtained a “small surplus” in 3Q11, says finance minister Salgado

With a public deficit of €12.87 billion, 1.19% of GDP in the third quarter, the regional governments in Spain would have recorded a small surplus of €192.72 million, according to what the finance vice president Elena Salgado said on Tuesday. More details were reported by the Spanish press. “… The Spanish regions are on the path of deficit reduction,” said Elena Salgado, finance vice president. Her forecast for the full year…