Spanish public debt

Budget 23: Expansive And Electoral (What The Government Knows How To Do)

Fernando González Urbaneja | No surprise, the Budgets 2023 presented give everything the government has to offer; coherent with what has been presented so far in the legislature; no more (and no less). Expansionary and electoral budgets. As always, and even more so, since the aim is to win the elections themselves. And this is done with optimism, with generous distribution of benefits, without concern for deficit and debt. No…


Spain: A Reckless Electioneering Budget

The Council of Ministers on Tuesday approved the draft General State Budget for 2023 agreed by the coalition partners. The accounts are based on a new macroeconomic framework that reduces the GDP growth forecast for 2023 from 2.7% to 2.1%, on a record expenditure ceiling of 198.221 billion euros. Current spending grows by 6.9% (18.3% if one takes into account that refugee aid measures are now supported here). Meanwhile, so-called…

budget2021 amendments

The Spending Ceiling For The 2023 Budget Reaches Congress: €198,221 mn (+1.1%)

The Government will defend the non-financial spending limit, colloquially known as the spending ceiling, for 2023 this Thursday in the Plenary Session of Congress, in what is considered the first step in the processing of the General State Budget bill for 2023. Specifically, the non-financial spending limit for 2023 amounts to 198,221 million euros, a new record, 1.1% higher than last year’s spending ceiling, including 25,156 million euros of European…

pedro sanchez preocupado

Will The Spanish Budget Deliver A Fair Recovery?

J.P. Marín-Arrese | The Spanish government boasts that the tabled budget will benefit most citizens, from pensioners to young people, self-employed people or civil servants. It hopes targeting such groups will pay off when election time comes. The government is also pinning its re-election hopes on the bonuses it will give young people to help them find a place to live on their own and on the money for entertainment…


What If The PP Were To Offer To Agree The 2022 Budget?

Fernando González Urbaneja | Someone must have told Pablo Casado that by being a grump he does not gain political space or win more votes. This has been noticed in the week’s control session, when Sánchez was surprised by the offer to agree on the renewal of the pending institutional bodies (except for the General Council of the Judiciary). In this way, the Socialists’ accusation that the Popular Party is…

pge2022 sanchez diaz

The Ministry of Inclusion Takes The Largest Share Of The General State Budget for 2022, With €33.3478 Bn

Last week, the Council of Ministers approved the General State Budget Bill 2022. Total Expenditure amounts to 458.97 billion euros (+0.6% YoY or +2.897 billion euros). Social Spending amounts to 248.391 billion euros (+3.6% YoY). For this reason, the Ministry of Inclusion, Social Security and Migration will receive the largest share of the budget for 2022, with €33.478 billion, taking into account that it includes the transfer of €18.396 billion…

Spanish Ministry of Economy Nadia Calviño and Ministry of Finance María Jesús Montero

Fiscal Inconsistencies Of The 2021 Budgets

Fernando González Urbaneja | The approval of the 2021 budget was one of the first successes of the coalition government headed by Pedro Sánchez. It was like a resistance test for the alliance that made the government possible, with partners in the government (the United-Power conglomerate) and occasional partners in Parliament (regionalists, nationalists and various pro-independence supporters). The budget was approved after previous failed experiences and the government felt ratified…

spain housing construction 1

NGEU And 2021 Spain’s Budget: A Significant Amount Allocated To Relaunch Spain’s Real Estate Sector

CaixaBank Research | The Recovery, Transformation and Resilience Plan (PRTR) for the Spanish economy could be an important catalyst for the real estate sector. With the help of European funds, the government plans to recondition half a million homes between 2021 and 2023, with the aim of improving their energy efficiency and thereby helping to achieve the agreed decarbonisation targets. The General State Budget (PGE) also proposes a notable increase in the funds allocated to housing policies.

Spain Budget2021

Spain Already Has A Budget For 2021, At Last

On Thursday, Parliament approved the 2021 Budget with the support of 11 parties and 188 votes, including Catalan and Basque separatists. Thus, the future of the new accounts, the first of the minority, left-leaning coalition government, is finally clear. They would come into effect on January 1, leaving behind those of 2018, drawn up by the previous PP government and still in force. The budgetary plan includes broad tax increases and the birth of the Tobin and Google taxes.

budget2021 amendments

Spain’s Budget 2021: Improvable, But Far From Being The Worst Possible To Show A Responsible Country

Joan Tapia | Yesterday, the Spanish Parliament rejected, with a large majority the complete amendments to the 2021 budget. It is an important step towards political stability and the possibility of creating an economic policy to fight the crisis. From the economic point of view, the Budget may be substantially improved, but we have the government that we have, PSOE with Podemos. So the accounts for 2021 – in the midst of great world uncertainty – are far from being the worst possible.