The Balearic government faces a grave financial situation. In the first quarter of the year, the total debt rose to 9,004 million euros, equivalent to 26.4% of regional GDP. The AIReF independent fiscal responsibility authority says that the debt will continue to rise over the coming years and that it will be 2042 before the debt can be brought down by 50% (to 13% of GDP) and not 2033, which has been the government's target.
Government finances forecast to worsen over coming years
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