The Valencian Generalitat’s public sector remains a compact, interdependent system in 2024, consisting of 57 autonomous bodies, including agencies, consortia, foundations, and related organizations. The first financial reports from the new autonomous government show a smaller overall allocation, with a reduction of 150 million euros in the budget for these entities compared to the previous year, though none of the organizations were dissolved.
Finance Minister Ruth Merino noted that a deeper review would happen over time, not in a single move. The Consell recorded support totaling 3,826 million euros for all public companies within the autonomous instrumental sector. This marks a dip of 150 million from 2023, when Botànic enacted a budget of 3,979 million. The level still doubles the funding seen by these entities in 2016, underscoring a long-term trend of meaningful public investment, even as the allocation tightens in the near term.
Yet, the year brought a contrasting dynamic: a narrowing of resources for a number of entities, and a distinct downgrading of publicly traded companies focused on economic development. The scale of reductions revealed a broader pattern across agencies and services tied to state-led growth and employment initiatives.
Labora’s position has shifted notably, reflecting a broader recalibration of programmatic support within the employment framework.
In this parallel administration, sharp cuts are visible in several areas, including a substantial reduction in Labora’s budget—from 552 million in 2023 to about 106 million. This near-fivefold decrease signals a strategic re-evaluation of labor-market interventions and public employment programs.
Ivace’s accounting figures declined by 69 million euros, moving from 236 million to 169 million. The Valencian Institute of Finance saw a 13 million euro reduction, while Turisme faced a 20 million cut. The Valencia Innovation Agency’s budget fell by 12 million from last year’s 75 million. Ferrocarrils reduced its funding from 315 million to 282 million, and the Valencian Housing and Land Authority (Evha) decreased from 90 million to 76 million.
The overall decline stems not from personnel costs but from the combined decreases in current transfers and real investments. Both of these lines experienced a drop of roughly 400 to 250 million euros compared with 2023, illustrating a recalibration of operating expenses and capital projects across the system.
There was a political tilt in the redistribution, with efforts to minimize the Valencian Institute of Democratic Memory, which retained about a third of its funding, resulting in a modest impact on the total budget. The Consell de l’Horta de València and the Consell de l’Audiovisual also faced a 20 percent reduction, effectively halving their budgets in the current cycle.
On the other side of the ledger, some entities intensified their investments. Espais Econòmics stands out for its dramatic budget expansion, increasing tenfold to 148 million euros. This company has been instrumental in guiding major industrial initiatives, including the development associated with Volkswagen’s entry into Sagunt. Other notable gains occurred in the consortium managing the Valencia General Hospital, which added 30 million euros, and the Agricultural Development and Guarantee Agency, which grew by 20 million. À Punt will operate with a budget set at 69.8 million euros, a modest rise of 0.7 million, in line with the law that allocates 0.3 percent of non-financial expenditure to budgeted services—an amount totaling 22,670 million euros across the system, in line with the broader financial framework described by the government’s reporting instruments. [Attribution: Valencian regional government financial report, 2024]