The President of the Catalan Government, Artur Mas, officially announced on Tuesday that last year’s budget will be extended for the whole of 2013, since the 1.58% deficit target imposed by the Spanish Executive is too low and arrives...
The deficit target for Spain’s entire public sector has also been raised from 4.5% to 6.3%. The Spanish Government has kept 81% of the deficit for itself while it is only responsible for 50% of Spain’s public spending. The Spanish Government...
The Catalan Government’s finances corresponding to the first four months of 2012 showed a €535 million budget surplus. Spending has been reduced by €240 million in comparison to the same period last year, when the Catalan Government’s...
Considering the “exceptional” crisis Spain’s banking system is going through, the Cercle d’Economia, a Catalan economic forum open to businesspeople and academics, recommends “drastic” measures in order to face a “systemic”...
The Catalan Parliament has approved Catalonia’s Law of Budget Stability, which is more restrictive than its Spanish equivalent. The Catalan law reduces the adaptation time set in Spanish law by 2 years. Furthermore, it sets a 0% deficit for...
The Centre-Right Catalan Nationalist Coalition (CiU), which controls the Catalan Government, and the People’s Party (PP), the third political party in Catalonia’s Parliament, have agreed to reduce some of the fees from the original proposal,...
The Spanish Government stressed that no Autonomous Government will be left disappointed if they have a “responsible” attitude and have an austerity plan in place. However, those failing these measures could be intervened the same way “the...
The Spanish Finance Minister, Cristóbal Montoro, announced that the Central Government might heavily fine the governments of Autonomous Communities that do not meet the deficit objective. Montoro, from the People’s Party (PP), met with the...
Main Catalan forces share the need to control public spending and balance public finances but many fear the proposed measure could be used to trim Catalonia’s self-governance. In this line, the Catalan Government’s spokesperson asked Catalan...
