The Generalitat considers "completely insufficient" the new deficit limit established at 0.1% of GDP for the year 2024, explained sources from the Department of Economy directed by Natàlia Mas. The Government has raised the deficit that the Autonomous Communities may incur next year from 0% to 0.1%, in accordance with the Stability Program published today.
In the month of April of the aforementioned Program, the allowed deficit was 0%. Taking into account Catalonia's GDP, the additional tenth included in the stability program means just over 200 million euros of more spending next year.
The Government's plan estimates the collection losses due to the race to the bottom of several autonomies in the Wealth Tax and the Inheritance and Donations Tax. In 2023, the lowest income is 109.9 million and 71.8 million respectively. By 2024, the drop in collection will be just over 320 million between both taxes.
With the change, the real deficit rate for the Central Administration will be reduced from 3% to 2.9% since the remaining tenth is assigned to the communities.
According to a note this Monday from Economic Affairs, the document sent to Brussels states that the "good progress of the economy" will allow the debt/GDP ratio to be reduced to 108.1% in 2023 and 106.3% in 2024.
For its part, the deficit for Social Security next 2024 remains at 0.2%, the same rate as that forecast last April, while for Local Entities the surplus of 0.2% is maintained.
