The Government confirms that it will not present the Budgets this year

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The Government confirms that it will not present the Budgets this year





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The government spokeswoman and finance minister, Maria Jesus Montero, has admitted this Thursday that the forecasts for the path of budgetary stability have been “totally out of date” due to the Covid-19 crisis, so it has advanced that when macroeconomic perspectives are available a new path will be presented to present the 2021 Budgets “in time and in form” directly, therefore renouncing the public accounts of this year.

This was stated by Montero at a press conference on the occasion of the videoconference meetings of the Prime Minister, Pedro Sanchez, with the various political groups facing the Pact for social and economic reconstruction of the health crisis promoted by the Executive.

Montero has indicated that the Government had “practically prepared” the presentation of this year’s Budget project, according to the stability path approved by Congress and definitively by the Senate last month, which constituted the “skeleton” of public accounts, however due to the pandemic it has been “totally outdated” with “totally outdated” forecasts.

GDP drop

In this sense, he recalled that the growth forecast with which the preliminary draft Budgets were prepared for the current year was 1.6%, although now it does not have “enough knowledge” to predict the behavior and the fall in GDP this year and next, for which reason he renounces the presentation of the accounts for this year, which was originally scheduled to conclude its processing before the summer, as established by the Prime Minister, Pedro Sanchez.

However, it has indicated that since has been “about” to present the 2020 Budgets, the Government has “training” and will allow that when macroeconomic perspectives become available, reassemble the “skeleton” of public accounts, since “it will be by 2021”.

“We will adapt to the usual dates and schedules for processing the budgets and we hope that we can continue year after year presenting the PGE in time and in shape,” he added.

The Minister of Finance trusts that by the time of the presentation of the new public accounts for 2021, the Government will have macroeconomic perspectives endorsed by international organizations “much safer” than the current ones, since those collected on the stability path have been “absolutely out of date”.

“We will have to set out on a path of stability according to the economic situation and we will present them for the 2021 Budgets,” he announced.

Inspired by the ‘Reconstruction Pacts’

In any case, before the time of the Budgets arrives, the Government is focused on the table created within the framework of the Pact for social and economic reconstruction in which the Government works with the political formations, the autonomous communities, the city councils and the social agents.

If the works of the same are advanced at the time of the presentation of the PGE, Montero has indicated that the points of consensus will serve as a basis for its configuration and will contain the “priorities” of the different sectors that are delimited in the social dialogue Looking ahead to 2021.

“If presented, public accounts should be based on that environment”; Montero has apostilled, who he has insisted that his intention is to present them “in time and in form” and he hopes that by then the works of the table of the reconstruction pact will be advanced and the PGE project can be “inspired” by “those questions where there is consensus and rapprochement between the different political forces.”

According to Montero, different measures will be studied for all sectors, and he has especially cited tourism, hotels, restaurants and industry, ensuring that “no one is going to be left behind” and everything will be upheld in accordance with the principles of ecological transition, energy efficiency and digitization.

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