Spanish budget 2023


Spain’s 2023 budgets are based on optimistic economic forecasts

Jakob Suwalski (Scope Ratings) | Yesterday, the Spanish parliament approved the budgets for 2023. The government’s starting point is real GDP growth of 2.1% in 2023, compared with our estimate for 1.0-1.5%. The IMF is forecasting 1.2% and the European Commission (EC) 1.0%. In addition, the government estimates an increase in tax revenues of around 6% next year, supported by a new tax on wealth and temporary taxes on the…