Spanish Government approves general budget for 2022
The Minister of Finance and Public Function reported that more than 59 % of the accounts will be allocated to social spending, with an emphasis on young people
The Spanish Government approved the draft bill of General State Budgets (PGE) for 2022, which amounts to 458,970 million euros, of which 27,633 come from European funds. This was reported by the Minister of Finance, María Jesús Montero.
She highlighted that the non-financial spending limit, also known as the “spending ceiling” remains in 196,142 million euros, similar to that of 2021 (196,097), including extraordinary transfers to the autonomous communities, Social Security and part of the European funds.
The Budget includes, as sources of financing, a collection equivalent to 232,352 million in tax revenues (before assignment to territorial entities) compared to the 214,995 of the advance of the settlement of 2021 and the 194,051 collected in 2020. It also considers an increase in the collection through companies, VAT, IIEE and personal income tax.
According to Montero, the purpose of the budget “is to address a fair recovery, promoting a more productive and sustainable model and ensuring that economic improvement reaches society as a whole.”
Social sector as a priority
The minister stressed that the budget plans to allocate 6 out of every 10 euros to social spending, with particular emphasis on young people. The distribution of the General State Budget establishes that the minimum and non-contributory pensions and the minimum vital income (IMV) will increase by 3 % in 2022.
The budget project also contemplates 12.55 billion euros dedicated to youth policies, ranging from housing, culture and scholarships. According to Montero “with these resources, 84.8 % more than the previous year, they intend to improve opportunities of the present and the future of the new generations”.
On the other hand, 13,298 million euros are planned for next year for research, development and digitization, “the highest amount recorded in public accounts.” In addition, 7,600 million euros will be available to encourage employment policy and vocational training. Also, 11,300 million dedicated to industry policies, to support the competitiveness of SMEs and more than 11,800 million for resilient infrastructure and ecosystems.
M. Rodríguez
Source: atlantico.net
