The Catalan Government ended the first quarter with a budget surplus of 0.45% of the GDP
The Spanish Finance Minister, Cristóbal Montoro, presented the budget data from January to March 2012. The Autonomous Community Governments together had a 0% deficit in this period. Among them, Catalonia’s had a 0.45% budget surplus, while in the same period of 2011 it had a 0.65% deficit. Montoro emphasised that the data shows “the big effort” the Autonomies are making.
Madrid (ACN).- The Spanish Government released the budget data of the Autonomous Community Governments corresponding to the first quarter of 2012. All together, Spain’s Autonomies had a 0% deficit between January and March. The Catalan Government in particular ended the first quarter with a budget surplus corresponding to 0.45% of its GDP. In the same period of 2011, Catalonia had a 0.65% deficit, which represents a difference of 1.09 percentage points with 2012 data. In quantity terms, the Catalan Government had a budget surplus of €888 million, while in 2011 it had a deficit of €1.293 billion. Last year, between January and March 2011, the Autonomous Governments combined had a 0.75% deficit.
The Spanish Finance Minister, Cristóbal Montoro, emphasised that “the data shows that the Autonomies are making a very big effort to reach their deficit targets”. He also added that “the Spanish Government’s plan is already giving results from the start of the year”. It also showed that “the coordination” between the regional governments and the Spanish Government “is working”.
Montoro explained that the Spanish Government had advanced the payment of some transfers corresponding to the June-December period. Without these transfers, instead of having ended the first quarter with a 0% deficit, the Autonomies would have a combined deficit of 0.45%. Catalonia’s would be a 0.46% deficit (€917 million). In any case, it is still better than last year when the Catalan Government had a deficit of 0.65% over the first quarter.
The Spanish Minister insisted that the data show that the deficit is being reduced, and that efforts need to continue in this direction in order to meet the deficit objectives. According to Montoro, data “points in the right direction”, but “the final result will have to be won at the end of 2012”.
Montoro was also satisfied to present these numbers for all the Autonomies, each quarter, as it improves transparency and allows the exact state of all the Autonomous Government budgets to be known. “It is a very positive step in terms of transparency and reliability”.
The Autonomies with a budget surplus in the first quarter were Castilla-La-Mancha (0.59%), the Balearic Islands (0.57%), Catalonia (0.45%), La Rioja (0.26%), the Basque Country (0.25%), Asturias (0.11%), Castilla-y-León (0.08%), Aragon (0.07%), and the Valencian Community (0.00%).
Those governments with a deficit were: Navarra (-1.44%), Murcia (-0.61%), Andalusia (-0.44%), Canarias (-0.30%), Extremadura (-0.23%), Galicia (-0.19%), Madrid (-0.10%), and Cantabria (-0.02%).