The Foundation for Applied Economics Studies (Fedea) published yesterday its estimate of future spending on interest on the public debt of the Autonomous Communities for the period 2023-2026 and in said calculation it establishes that the Valencian Community will be the second, behind Catalonia , that more interest pays on average due to the increase in rates.
In total, it estimates a payment of 985 million euros between 2022 and 2026, which year after year means that in 2022 the payment will be 361 million euros, while in 2023 it will be 476 million, in 2024 679 million, in 2025 out of a total of 970 million and in 2026, 1,346 million euros.
In his report, Fedea recalls that in the coming months and years Spanish fiscal policy “should not lose sight of the financial impact that past and present debt will have on public accounts in the medium term.”
Fedea also explains that the interest rates for issuance of the Spanish public debt are hovering around 3% and for this reason he points out that the future increase in interest expenses will acquire “considerable importance” in the public accounts of the public administrations.
Likewise, in the results of the Fedea report, with regard to the Valencian Community, it is stated that its regional public debt stands at 57,452 million euros in 2023 and will stand at 57,432 million euros in 2026, with hardly any variations.
Currently the debt represents 43.7% of the Valencian GDP and, within three years, it will be 38.3%, according to Fedea estimates. The entity explains that this reduction -generalized in all communities- is due to the increase in GDP foreseen in the Update of the Stability Program until 2026.
Just a week earlier, Fedea issued another report on the 2021 liquidation of the financing system of the common regime autonomous communities, which delved into the idea that the Valencian position has worsened from 2020 to 2021 and that not even the extra funds have allowed him to reach the Spanish average.
The study establishes that, together with Murcia, the Valencian Community is the worst stop when comparing the regional indices of relative financing per adjusted inhabitant.
