If it is not approved, the autonomous communities and municipal authorities would also have to formulate their budgets through the previous process.
The Council of Ministers of the Spanish government approved for the second time this Tuesday the stability path for the period 2025-2027where the same thing is in deficit targets and debts that were rejected by Congress in July and currently do not have enough support to move forward.
The First Vice President and Minister of Finance, Mary Jesus Monterohas defended the approval of the same path – in his opinion ‘difficult to improve’ because it ‘gives autonomous communities and municipal councils more fiscal space to finance their services than the path currently in force’.
“If the PP and any other group votes against this path,” Montero warned without referring to the Junts, “they will force an adjustment of 6.6 billion euros to the autonomous communities in two years and 4.95 billion euros in two years. a total of 11,550 million.
In the same way, he recalled that the regions governed by the PP have abstained from voting on this path. Therefore, he has asked the party to “abandon that idea” of voting against, because this would force the accounts of the autonomous communities to be redrawn and municipal governments to adapt them to other budgetary objectives.
The spending path and ceiling for next year – also approved this Tuesday, but not voted on in the Cortes – form the basis previous step to budgets from 2025, which the executive branch plans to present even if the deficit targets do not receive the support of the Cortes.
The stability path approved this Tuesday is identical to the one rejected in July and foresees the government deficit falling to 2.5% of GDP in 20252.1% of GDP in 2026 and 1.8% of GDP in 2027, with less stringent targets for autonomous communities and municipal councils than in previous estimates (0.1% of GDP and the balance for the entire period, respectively).
As for the non-financial expenditure limit or expenditure ceiling for next year, it is at a record high 195,353 million euros3.2% more, a figure that rises to 199,171 million if we include the 3,818 million in European funds.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
