2024 accounts rise 4.5% to sustain social spending and service debt
A day after the 2024 budgets from the Generalitat were announced, Consell shared regionalized investment data by province, one of the momentous figures this Tuesday. In Alicante, the latest figures show a reduction in the investment plan by 124 million euros, as the Botànic budgets shrink from 610 million for the current year to 486 million earmarked for 2024. It was already noted on Monday that actual expenditures appear in this year’s accounts. Excluding debt service, the total rises more modestly because a sizable portion of the funds goes directly to cover maturities and interest on liabilities. Consell sources also stated on Tuesday that although Botànic investment is higher for 2023, the budget realization rate through the end of the third quarter sits around 25 percent.
Regarding resource allocation by province, Alicante’s regionalized investment stands at 38.07 percent, slightly above its population share within the province. The Valencian Community accounts for 37.4 percent. Last year, Alicante’s regionalized investment was about two points higher at 40 percent. In this light, Botànic aimed to compensate the province through regional budgets after prior deficits in state accounts that left Alicante at a lower rung in investment.
eight years
The total projected investment for 2023 reached 610 million, marking the eighth consecutive increase in the Consell’s allocation for the state since 2016, when 89.8 million was first recorded by the left-wing coalition. The plan is set to exceed 600 million again. This trend meant that Alicante’s investment grew nearly sevenfold during the Botànic period. The Consell, however, notes gaps in this year’s budget data. It points to a low execution rate and notes that some older administrators included fictitious items in their accounts and did not receive planned European funds.
For the remaining provinces, regionalized investment in Valencia amounts to 647.66 million, a decrease of 57.43 million from 705 million in 2023. In percentage terms, Valencia now accounts for 50.77 percent of resources, up from 47.25 percent previously. Investment in Castellón stood at 142.24 million, down 34.76 million from 177 million in 2023. The share of resources for Castellón remains roughly steady at about 11.15 percent, compared with 11.86 percent previously.
Looking at the overall 2024 budgets, a growth of 4.5 percent is projected, reaching around 29.372 million. Early estimates from PP and Vox managers hinge on expected increases in revenue from the State financing system and tax collection, which are anticipated to surpass the previous figure substantially.
Vega Baja plan and tourism in the crosshairs of criticism
Both PSPV-PSOE and Compromís argued this Tuesday that the accounts presented by Consell, PP and Vox do not align with state criteria and hinder addressing the historical investment deficit in Alicante. Much of the criticism centers on the Vega Baja recovery plan, promoted after the 2019 DANA, and the downturn in one of the region’s major economic sectors. The province saw its budget fall from 94.9 million to 74.5 million, with tourism facing particular challenges.
A PSPV source described the Vega Baja strategic plan as reflecting a perceived lack of commitment to sustainable recovery and development in the region, noting that the political priorities of Consell de Ximo Puig appeared to drift away from the area. Aitana Mas, deputy spokesperson for Compromís in the Valencian Cortes, also highlighted that the Alicante-based Innovation Department experienced notable reductions.
In commentary on the regional plans, observers noted the tension between budget allocations and their impact on local recovery efforts, underscoring how investment choices shape growth in tourism, employment, and public services across Alicante and the wider Valencian Community. (Source attribution: regional assembly records and cabinet statements.)