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Adopted the objective of budgetary stability for the period 2011 - 2013
The Council of Ministers has adopted the objective of budgetary stability for the period 2011-2013 and the limit of non-financial expenditure of the State Budget for 2011. These objectives and the Government's commitment of all the government in 2013 to meet the objectives set by the European Commission in order to present a public deficit not exceeding 3 per 100.
As set out in this way, the government deficit will fall from 11.2 per 100 of GDP in 2009 to 9.3 per 100 in 2010, will fall to 6 per 100 in 2011 to 4.4 per 100 in 2012, and close the period by 3 100 up to 2013.
As regards the Central Administration, 2010 forecasts a deficit of 5.9 per 100, which was reduced to 2.3 per 100 in 2011, will rise to 3.2 per 100 in 2012, and fall, finally, to 2.1 per 100 in 2013. Estimates for the Autonomous Communities provide a deficit of 3.1 per 100 in 2010 from 3.3 per 100 in 2011, from 1.3 per 100 in 2012 and 1.1 per 100 in 2013.
As for local entities, with an estimated deficit of 0.6 per 100 in 2010 to 0.8 per 100 in 2011 from 0.3 per 100 in 2012 and 0.2 per 100 in 2013 . With respect to Social Security, the estimate is a surplus of 0.2 per 100 of GDP in 2010 and 0.4 per 100 in the remaining three years.
Within this framework, we should clarify that the deficit figures for 2010 and 2011, particularly those of the State and the Autonomous Communities, are conditioned by the negative effect of the settlements of territorial authorities in the financial years 2008 and 2009. With respect to fiscal 2008, these returns will exceed seven billion euros, while for the year 2009 will be in the environment of the twenty-five billion euros.
Limit non-financial expenditure of the State
Along with the goal of fiscal stability for the period 2011-2013, has also decided to refer to Parliament's non-financial expenditure limit state by 2011. Since the estimated income for next year in terms of national accounts are of 104.539 million euros, the deficit target state is 2.3 per 100 of GDP and National Accounts adjustments are worth 21.186 million of euros, the spending limit in terms of national accounts amount to 150.056 million euros.
This figure, however, is not comparable with that of 2010, as the new financing system a decrease of the expenditure budget due to lower amount of Sufficiency Fund. It is therefore necessary to eliminate the expenditure under the funding schemes of the Autonomous Communities and Local Government so that comparison is homogeneous. After these adjustments, the non-financial expenditure limit for 2011 is set at 122.256 million euros, representing a decrease of 7.7 per 100 compared to the budget of 2010 in comparable terms.
As regards the Central Administration, 2010 forecasts a deficit of 5.9 per 100, which was reduced to 2.3 per 100 in 2011, will rise to 3.2 per 100 in 2012, and fall, finally, to 2.1 per 100 in 2013. Estimates for the Autonomous Communities provide a deficit of 3.1 per 100 in 2010 from 3.3 per 100 in 2011, from 1.3 per 100 in 2012 and 1.1 per 100 in 2013.
As for local entities, with an estimated deficit of 0.6 per 100 in 2010 to 0.8 per 100 in 2011 from 0.3 per 100 in 2012 and 0.2 per 100 in 2013 . With respect to Social Security, the estimate is a surplus of 0.2 per 100 of GDP in 2010 and 0.4 per 100 in the remaining three years.
Within this framework, we should clarify that the deficit figures for 2010 and 2011, particularly those of the State and the Autonomous Communities, are conditioned by the negative effect of the settlements of territorial authorities in the financial years 2008 and 2009. With respect to fiscal 2008, these returns will exceed seven billion euros, while for the year 2009 will be in the environment of the twenty-five billion euros.
Limit non-financial expenditure of the State
Along with the goal of fiscal stability for the period 2011-2013, has also decided to refer to Parliament's non-financial expenditure limit state by 2011. Since the estimated income for next year in terms of national accounts are of 104.539 million euros, the deficit target state is 2.3 per 100 of GDP and National Accounts adjustments are worth 21.186 million of euros, the spending limit in terms of national accounts amount to 150.056 million euros.
This figure, however, is not comparable with that of 2010, as the new financing system a decrease of the expenditure budget due to lower amount of Sufficiency Fund. It is therefore necessary to eliminate the expenditure under the funding schemes of the Autonomous Communities and Local Government so that comparison is homogeneous. After these adjustments, the non-financial expenditure limit for 2011 is set at 122.256 million euros, representing a decrease of 7.7 per 100 compared to the budget of 2010 in comparable terms.
