General State Budgets for 2017

The Council of Ministers approved last Friday, March 31, the referral to the Cortes of the Project of the General State Budget for 2017 , which have as a fundamental objective to strengthen the economic growth and sustainability of public finances.

The Minister of Finance and Public Father In order for the rest of the public administrations to meet their deficit objective and, in 2018, Spain leaves the excessive deficit procedure of the European Union. ”

Montoro emphasizes that the Spanish economy grows and has the capacity to finance: “We are a sufficiently competitive country and to maintain financing capacity we must continue to reduce the public deficit to the objective of 3.1%.”

income and expenses

In its presentation of the General State Budgets for 2017, Cristóbal Montoro stressed that Spain returns to the collection levels of a decade ago: “In 2017 we aspire that total tax revenues be located in the 200,000 million euros, which is the figure that administrations had ten years ago. ” The data of the Tax Agency published last week, as the minister has pointed out, already reflect an increase in income of 6.7% so far this year.

Social Budgets

In this regard, public accounts provide the autonomous communities with 5,387 million euros more, increase the resources in justice by 7.6%, contemplate 100 million euros more for dependence, 7.5% more for Scholarships and school reinforcement programs and 5.5% more for active employment policies. The fight against tax fraud has 100 million additional.

Public Employment Offer

The head of the Treasury and Public Function affirmed that the General State Budgets for 2017 improve public employment by incorporating the approval of a public job offer for 2017, which represents a replacement rate of 100% of the troops. P>

In addition, he recalled that the

The Government provides that the Gross Domestic Product increase 2.5% in 2017, with a greater contribution from the foreign sector. Guindos points out that it will be the second consecutive year in which external demand contributes to economic growth, something that had not happened in the last twenty years and that “highlights quality, and above all, the sustainability of growth.” The minister also stressed that the most dynamic item will be that of exports of goods and services, which indicates “that we are a competitive economy.”

According to the Executive projections, 2017 will also be the fifth exercise in which Spain records surplus in the current account balance. As the minister explained, that implies that, apart from a “much more enduring” growth, in those five years it has been reduced external indebtedness by approximately 85,000 million euros.

Regarding the evolution of the labor market in terms of the Active Population Survey (EPA), the Government predicts the creation of 50,000 jobs, so that the number of employed will exceed 19 million. The unemployment rate will be reduced two points, up to 16.6%, more than ten points below the maximum that was reached at the beginning of 2013 and the lowest level since the crisis began.

other agreements

The Council of Ministers has agreed of R&D , within the framework of the State Plan for Scientific and Technical Research. The fundamental objective is that Spanish companies increase their competitiveness generating knowledge, technologies and innovations aimed at improving processes and the creation of technologically advanced products and services and of greater added value.

In the field of energy, the Government has established a new call for allocation, through an auction, of the Alternative resolution of litigation in consumption . The objective is to facilitate consumers an extrajudicial resolution of the conflicts they may have with entrepreneurs established in any Member State of the European Union.

Finally, the Council of Minister

Méndez de Vigo also recalled that the lines of action include a specific provision with respect to Gibraltar that establishes that no agreement between the European Union and the United Kingdom can be applied to that territory without the agreement of the United Kingdom and the Kingdom of Spain.

Regarding a possible VAT reduction for cinema, Méndez de Vigo referred to existing aid, such as “tax advantages to cinematographic producers or the increase of up to seventy million in their new financing law.” A possible tax reduction “is a commitment to the future” of the Executive, which will be addressed “when the growth path allows it,” he added.

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Ministry of Economy, Industry and Competitiveness – Government of Spain | Public