Government approves record spending ceiling of 198,221 million for 2023

The government approved spending ceiling 198,221 million, 1.1% more than in 2022, that is, the border public administrations inside 2023. This is the previous step of detailing. General budgets of the state for the next exercise. They ensure from the Executive Board that the teams of the Ministry of Finance and the Second Vice Presidency, representing the two parts of the coalition government, have agreed. a spending ceiling that represents the highest figure in history. Excluding European sources from the ‘Next Generation’ fund, 173,065 million, or 1.9% more. For Social Security, too, there was a transfer of 19.888 million, representing an 8.1% increase over this year.

It was announced by the Minister of Finance, María Jesús Montero, and the First Vice-President and Minister of Economic Affairs. Nadia Calvinodetailed the macroeconomic picture on which the next year’s calculations will be based.

Last year, this spending cap was again a record with 196.142 million, a figure very similar to 202.€25,622 million was included for 1. 2022, the year the real leap was made with 196,097 million, thanks to approximately 26,000 million from European ‘Next Generation’ funds included for the first time. It is aimed to continue for another year with the relaxation of the financial rules authorized by Brussels. Despite this, “financial responsibility” remains, with a deficit of 5% of GDP this year and 3.9% next year. If forecasts are met, the cash gap will have decreased by 60% since the pandemic. The deficit margin for the Autonomous has been increased from 0.1% to 0.3% of GDP undertaken by the central government, ie 3.4%.

On this occasion, the rise in inflation, which is expected to continue at high levels throughout the summer, has already started to put pressure on household and business accounts. According to the final data of the National Institute of Statistics (INE), the consumer price index (CPI) increased by 1.9% in June compared to the previous month and reached its lowest level with an annual rate of 10.2%. High since April 1985.

They assume from the government that it will be “difficult” to negotiate a General Government Budget project for 2023, which will include an increase in defense spending to reach the target of 2% of GDP in 2029. Madrid.

Other priority partners, such as United We Can and the ERC for the Government, have already made it clear that they reject this increase in defense-allocated items and, on the contrary, call for “strong” measures to increase social spending.

According to government sources, new budgets may continue. economic transformations, job creation, fighting inflation, protecting people, improving public services and promoting the ecological transition..

Source: Informacion

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