Europe cuts spending on Spain and puts pensions at risk

Brussels has decided to take over the economic reins of some countries, such as Spain, which have skyrocketed their spending based on budget, Looking at 2023, he has asked these countries to cut spending on some existing items.

The novelty is that Europe’s demands are linked to the distribution of wealth Next Generationsignificant financial support that the government Pedro Sanchez It has not just reached the business fabric or autonomous communities as it should.

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Chairman of the Independent Accountability Authority (AIReF) christina herrero, a few days ago it was revealed that the cut figure would be 7,500 million euros. This amount points directly towards pension with about 75% of the total monthly expenditure.

If the government adjusts these figures so as not to jeopardize European aid, it should limit increases in the budget €16.5 billion Instead of 24,000 he is planning.

Continuing with the analysis of pensions, the problem that the government will face in an election year like 2023 is the revaluation of pensions. Indian Penal Code And the increase in pensioners will increase spending by 8%. If the share of pensions in the budget is about 25%, this leaves a very narrow gap of growth for the rest of the items.

The sustainability program that the government sent to Brussels should be reviewed to accommodate the new spending control norms. blanket of Spain It does not come with covering its head and legs at the same time and means Spain will drop these financial regulations like other countries.

Brussels will be the one to decide the extent to which it allows Spain to violate spending limit Without risking pension or next generation funds.