ABC Spain 2 / The Cabinet yesterday approved the Legislative Decree on regional financing with significant developments since the state has convertirdo creditor of much of the debt of the communities, the result of the extraordinary liquidity measures ( Liquidity Fund regional, FLA, and Provider Payment Fund).
Besides, has approved the creation of a new mechanism, called Finance Facility for those communities that meet the deficit ceilings, debt and means pay periods, to a zero interest rate until 2017 that will fund all debt maturities regions, both domestic and foreign commercial debt, negative settlements, etc … with the simple condition to submit information to the Treasury quarterly.
Overall the state will finance communities the interest on its debt next year, through all the instruments, 5811.4 million. The main beneficiaries will be Catalonia with 1,843,000, followed by Valencia, with 1,170 and already far behind Castilla y León, with 434 million. Madrid, whose government has been very belligerent on this issue in recent days, finance debt amounting to 219.6 million in 2015. The state will finance 5811.4 million euros of debt interest of communities in 2015 and 1.620 million of municipalities, 7431.4 million, while the total amount among all financial instruments amounted to 39.869 million euros.
In any case voluntary system Sources of Finance yesterday returned to remember that communities can voluntarily invoke these mechanisms help to finance or not until January 20, as published today by the Official Gazette. Anyway communities that have chosen not to join the support mechanisms for debt financing have paid the price, namely eight of them have paid a whopping extra $ 1887.7 million in interest between 2y 201 2014 as estimated by the Department of Cristóbal Montoro.
The community is paying more for not being under the control of the State Treasury is Madrid, with 875 million extra in interest that could have been spent on health and education The two main items of expenditure in the regions. Next in expenditure under this heading Basque country, with 251.5 million euros and Galicia, with 211.2 million.
Together all the mechanisms of aid funding has launched the Government with the idea of moving the cheapening the cost of financing the Treasury all administrations, has led him to communities annual savings of 1,127 million euros and 170 million for municipalities.
This has meant that half the state has 36.7% of the debt of the communities, although in some regions is higher, as is the case of Andalusia, 54.5% , Castilla-La Mancha, 55.5%, Murcia, Valencia and 57.9%, with 52.7%.
Information ABC of Spain 2
No comments:
Post a Comment