Spain’s Minister for Finance, Cristobal Montoro, presented the budget yesterday.

30-09-2014Chema Moya

Palma.—Central government in Madrid yesterday presented the proposed budget for 2015 and, on the face of it, it makes good reading for the Balearics.
The amount of public funding Madrid plans to pump into the region in 2015 is 138.45 million euros, that is just under 87 percent more than the 74.02 million euros made available this year.
The increase represents one of the sharpest in Spain but even the Balearic Minister for Finance, Jose Vicente Mari, was forced to admit that, from his point of view, the figure is still too low for the Balearics and said that the local government will continue pushing for more funding.
Mabel Cabrer, the ruling Partido Popular’s parliamentary spokesperson described the new as “a step in the right direction” again, suggesting there is still room for improvement.
Mari did add that Madrid owes the Balearics a further 93 million euros because the region managed to comply, more or less,  with central government’s deficit reduction plans for this year and that the government also managed to save 60 million euros because of the drop in interest rates.


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