Spain | Regional finances in 2022 and between 2003 and 2022

Summary

This Working Paper analyzes the trend in regional revenues and expenditures, including the sector's budget balance and its debt position from 2003 through to the present day.

Key points

• Key points:
• The first part pays special attention to the performance of expenditure per capita at constant prices.
• It then analyzes the accounts for the last few years in some detail, highlighting the effect on them caused by certain atypical factors, including the extraordinary income and expenses linked to the COVID crisis and the forecast errors in the calculation of the payments on account of the regional financing system.
• Correcting the raw data for the impact of these factors significantly alters the apparent financial situation of the Autonomous Regions, for the better in 2022 and for the worse in the two previous years.

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