The Spanish parliament approved the 2023 budget to significantly increase the defense and social affairs spending.
“This is a budget with standard social expenses, so that we can move forward on our way towards a more equal and sustainable country,” Prime Minister Pedro Sanchez said on Twitter after the draft law was passed by supporting 187 deputies in exchange for 156 others.
The result contradicts the obstacles faced by Sanchez and his opposition predecessor in approval of full budgets between 2016 and 2019.
Sanchez heads a minor government from the left. After doubting whether the House of Representatives will agree to the budget project, the approval of the Senate is now just a formal matter.
According to the Ministry of Finance, Spain will spend a record amount of 266. 7 billion euros (277.
7 billion dollars) on social affairs, equivalent to about 58% of the total budget. The number will increase for more than 274 billion euros after obtaining additional funding from the European Union.
Sanchez heads the Social Democratic Party, which reached an agreement with the hard -line left -wing Podas Podas Podas, “We can together”, the youngest partner in the government coalition, on an expanded budget a year before the elections.
Voters will go to the polls in regional and local elections next May, and a new parliament will be elected next fall.
Defense expenditures are scheduled to increase to more than 25% to reach more than 12. 8 billion euros.
Spain aims to achieve the minimum goal of NATO by paying 2% of GDP to defend by 2029.
It is expected that a new controversial tax on the wealthy will reinforce the revenues of about 18. 71 billion euros, or 7. 7%. The budget deficit is expected to be 3. 9% of GDP..
About Author
