budget

In Spain 23rd April 2025

Sánchez increases defence spending by €10 billion with no budgets and bypassing Parliament

Pedro Sánchez announced yesterday that Spain will increase its military spending by €10 billion this year, although only 20% of that figure will be allocated to the purchase of equipment and materials, while 35% will go to raising the salaries of the military. With this increase, Spanish spending on security and defense will reach 2% of GDP this year, totaling more than €33 billion. Sánchez thus contradicts himself, once again,…

In Spain 10th December 2024

Eurogroup asks Spain, Belgium and Austria for 2025 budget plan

Spain, Belgium, and Austria are the only eurozone countries that have not yet submitted their accounts for next year. However, Spain is the only one of the three countries that does not have a caretaker government and cannot blame the delay on an electoral call. Countries were required to submit their budget plans to the European Commission by October 15. In a joint statement, the finance ministers of the eurozone…

In Spain 25th September 2024

Sánchez negotiates new concessions to Puigdemont to save his 2025 Budgets

The Government was planning to put to a vote the same budget spending ceiling that sank in July this Thursday in the Congress of Deputies, but anticipating the same result, it has decided to rectify. The Government withdrew yesterday from the agenda the vote on the stability path, thus avoiding chaining another parliamentary setback and making another defeat visible in the chamber. “There is room for negotiation,” they explain in…

In Spain 20th September 2024

Puigdemont warns Government Junts will topple budget spending ceiling again if no renegotiation

The former president of the Generalitat and leader of Junts, Carles Puigdemont, has warned the Government this Thursday that his party will again vote against the budget stability path. He has done so in response to a publication in the social network X in which a news item was linked to statements by the first vice-president of the Government and Minister of Finance, María Jesús Montero, who said that they…

In Spain 14th March 2024

Sánchez renounces 2024 budget after early elections called in Catalonia, which will hold elections on 12 May… because it cannot approve its budget

The weakness of the Catalan government, with ERC in a minority, has led to a new early election in the autonomous community, set yesterday for May 12 by the president of the Generalitat, Pere Aragonès, after the Parliament rejected the draft budget of the Generalitat for 2024. The new date with the polls will be marked by the aftermath of the procés, as Junts will try to ensure that its…

Spanish economy 14th December 2023

Council of Ministers approves State’s non-financial expenditure ceiling for 2024 at €199.12 billion, 0.5% up on 2023

Bankinter| The Council of Ministers on Tuesday approved the non-financial state spending ceiling for 2024 at €199.12 billion (0.5% higher than in 2023). The spending ceiling includes an advance of €9,905 million from the NGEU funds. Excluding European funds, this would amount to €189.215 billion (up 9.3% year-on-year). In addition, the joint general government deficit of 3% in 2024, 2.7% in 2025 and 2.5% in 2026 was approved. Assessment: The…

Spanish economy 24th October 2022

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…

Spanish economy, Spanish Politics 5th October 2022

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…

Spanish economy 19th September 2022

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…

Spanish economy 18th October 2021

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…

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