Public spending up €230 billion since Sánchez took office, now exceeds €700 billion

Our country lowers the budgetary imbalance below the excessive deficit threshold of EU fiscal rules for the first time since 2018 in a new record collection exercise for economic growth and job creation Spain's economy grew by 3.2% in 2024, four times more than the eurozone Spain meets the European Union (EU) by reducing the deficit to 2.8% of GDP (gross domestic product) by 2024 without taking into account the impact of the DANA response on pub…

Dana expenditure increases the budgetary gap to 3.15%, a deviation which Brussels will not count when it comes to reviewing the implementation of the stability objectives

Public spending up €230 billion since Sánchez took office, now exceeds €700 billion

The Corner The year 2024 ended with consolidated public spending exceeding €700 billion. The final figure, which was revealed this Thursday, amounts to €722.846 billion, an absolute record in history. This fabulous amount is about €230 billion higher than the same concept in 2018, the year Pedro Sánchez came to power as Prime Minister after winning a vote of no confidence against Mariano Rajoy, explains La Razón newspaper. The accounts for 2024.…

The Ministry of Finance presented yesterday the deficit and collection data of the public accounts of 2024. Despite the good data of contributors, the Social Security increased its imbalance to 8.5 billion euros. Read

It should be noted that it is the first time since 2018 that Spain has been below the 3% excessive deficit threshold provided for in the EU fiscal rules. As Prime Vice President and Minister of Finance María Jesús Montero highlighted this Thursday, at the press conference held to present the budget closure, this is the fifth consecutive year in which Spain meets and even improves the deficit forecasts committed to the European Commission. Accord…

The deficit for all public administrations (PAs) closed 2024 at 2.8% of GDP, below the 2023 figure (3.52%), and stood at €44.597 billion, exceeding the target committed by the Spanish government to Brussels and the requirements under European fiscal rules (3%). This is evident from the preliminary data on budget execution for public administrations for 2024, presented this Thursday at a press conference by First Vice President and Minister of Fi…