The Generalitat’s instrumental public sector will continue to be formed in 2024 by the 57 institutions, consortia, organizations, foundations and autonomous organizations that make up it in 2023. The first accounts of the new autonomous Government show a reduction in the total amount. 150 million euros less were allocated to these organizations, but none of them disappeared.
“It will be analyzed more deeply in the future, it cannot be done overnight,” Finance Minister Ruth Merino said yesterday. Consell provided support of up to 3 billion 826 million euros to all public companies that make up the autonomous instrumental sector. This figure is 150 million less than in 2023, when Botànic allocated a budget of 3.979 million; This is twice the figure of these companies in 2016.
However, this year the situation was exactly the opposite and relegation occurred for the first time in eight years. Publicly traded companies dedicated to economic development are particularly affected.
Labora lost the fifth
Indeed, in this parallel Administration, dramatic reductions are taking place, such as the one that reduced the budget of the public employment company Labora by almost a fifth to 106 million compared to 552 in 2023.
Ivace’s accounts are also down by 69 million – from 236 to 169 – Valencian Institute of Finance’s accounts are down by 13 million, Turisme’s by 20 million, Valencia Innovation Agency’s accounts are down by 12 million from last year’s 75 million, Ferrocarrils continues from 315 million to 282 million, and the number of Valencian Housing and Land Authority (Evha) increased from 90 million to 76.
The main decline comes not from personnel expenditures, but from current transfers and real investments; Both of these chapters saw a decrease in the Generalitat’s budget by approximately 400 to 250 million less than in 2023.
Minimizing the Valencian Institute of Democratic Memory, which retains a third of its financial support, has a less impact on the overall budget capacity but is politically symbolic. The Consell de l’Horta de València or Consell de l’Audiovisual also loses 20% of its funds, cutting their budget in half.
There are those on the other side who are stepping up their game. The most notable of these is Espais Econòmics, which increased its budget tenfold to 148 million. This is the publicly traded company that piloted Volkswagen’s landing in Sagunt. There is also a significant increase in the consortium that operates the Valencia General Hospital (30 million) and the Agricultural Development and Guarantee Agency (20 million). À Punt will have a budget of 69.8 million (0.7 more) to comply with the creation law that budgets receive 0.3% of their non-financial expenditure – 22,670 million.