The government of socialist Pedro Sánchez refused to present a state budget bill for 2024.
The Spanish government confirmed on Thursday the objective of reduce its public deficit in 2024 to 3% of GDP, the level authorized by Brussels, after obtaining better than expected results last year in its Public finances.
“The forecast is that this year 2024 we will end up at 3%, complying with the stability pact of the European Union“said the Minister of Finance, María Jesús Montero, at a press conference.
This objective will be achieved on the basis of the income and expense balances for 2023since the socialist government Pedro Sanchez resigned from presenting a state budget bill for 2024 due to the instability of its precarious majority in Congress.
The Government of Spain keeps its word
Although there will be no new budgets this year, “the government of Spain has a saymeets its commitments,” guaranteed Montero, who stated that the 3% deficit would be achieved without budget cuts for public services.
Sánchez announced on Wednesday that the Spanish public deficit It was reduced last year to 3.7% of GDP, thanks to economic growth of 2.5%, one of the highest rates in the euro zone.
The data for 2023 was one point below that of 2022, revised downwards to 4.7%. Furthermore, it was two tenths better than the objective initially set by the government, of 3.9%.
Source: Ambito
