Finance minister Catalina Cladera yesterday provided more detail of the regional government's budget for 2018. As was announced last week, it will rise to 5,008 million euros, of which 1,020 million will be spent on paying debt.
Cladera said that the total debt is projected to be between 8,900 and 9,000 million euros. Because of financial management and improved economic circumstances, debt indicators - such as the time taken to pay suppliers - have improved, but she added that the debt is of such a size that it is "difficult to reduce it". She insisted that there needs to be a reform of the financing system and a restructuring of debt for regional governments (including the Balearics) which have high levels of debt because of "underfunding".
The budget for 2018, the highest ever, means that the current administration will have raised spending after more than three years in office by 973 million euros.
By ministry, the budgets for 2018 will be: health and consumer affairs 1,584 million; education 935 million; environment, agriculture and fisheries 217 million; social services and cooperation 190 million; land, energy and transport 180 million; employment, trade and industry 129 million; culture, participation and sport 97 million; treasury and public administration 89 million; tourism, innovation and research 77 million; department of the presidency 29 million.
The health and consumer affairs budget is therefore 31.6% of the total, while education is 18.7%.
For financing of the island councils there is a total of 926 million, of which 476.5 million will go to Majorca.