Palma.A document produced by Central Government's Ministry for Public Administration has revealed that the amount that the Balearics is going to receive next year has dropped the most in comparison with downturns in funding for other regions of the country. In fact there are only two others which will be getting less money in the 2013 budget than they did last year, Madrid and Valencia, by 0.45% and 2.24% respectively.
The document also makes it clear that Central Government is going to want an extra 5.3 percent in revenue from the Islands even though the region is going to receive 6.82 percent less in funding.
The Ministry confirmed that the Islands are to be allocated 1'463 million euros compared to the 1'570 million that the region has been given this year.
Supporting others
The reason that the Balearics is getting such a raw deal next year is due to the amount of money that the Islands are having to set aside to finance infrastructure in other regions of the country. The Ministry's calculations showed that 811 million euros will be leaving the Balearic Islands to bolster projects elsewhere in Spain. The figure is 37 percent more than the 589 million euros which was taken from the Balearics for the same purposes this year.
The national budget forecasts are being made public at this time to enable the regions to formulate their spending plans at a local level, and ultimately to get the funding programme agreed by regional Parliament.
Central Government budget forecasts are based on what the Public Administration believes it can legally demand in various forms of taxation from the regions.
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