The European Commission has sent the letter to the Government asking for clarification on the draft of the Budgets that the Executive has sent to Brussels. In the same, the Commission warns of the risk that the Government runs to breach the structural deficit reduction effort required by European fiscal rules for next year. Thus, the letter indicates that the structural effort planned by the Government in its budget proposal is 0.4% of GDP when Europe demands that it be 0.65%. "Based on the limited information available, we can not exclude a risk of some deviation from the effort required," the text states.
In the same way, the Commission's letter indicates that the draft of the Budgets entails a growth in nominal spending of 1.7%. I mean, almost triples the recommended spending increase by the Commission, which is 0.6%. Likewise, Brussels doubts that Spain is capable of complying with the obligation to reduce its public debt.
In the same way, the Commission requires more information on the measures to be included in the Budgets. "It would be important to offer the European Commission all the necessary information about the measures, especially the budgetary impact, to facilitate our evaluation," he explains.
In the same way, the Community Executive stresses that the plan presented may not be the same as the one finally approved by completing the parliamentary procedure, and therefore requests the Government to send "as soon as possible" an updated budget.
"If there are substantial differences between the budget plan and the budget sent to Parliament, we invite you to send an updated draft as soon as possible to the European Commission and the Eurogroup, as well as to inform us of any fiscal developments or decisions that may be taken in the next weeks », the letter says.
In that sense, Brussels hopes to continue the "constructive dialogue" with the Spanish authorities during the next few days and demands a response from the Spanish Executive at the latest on Monday, October 22.