The Royal House closed 2021 with almost six million euros in its accounts

The Royal House has healthy accounts. This is what emerges from the report of the General State Comptroller – a department dependent on the Ministry of Finance – corresponding to the 2021 financial year and which puts a figure on the savings of the institution's finances: 5,826,738.66 euros. The Royal House closed last year with almost six million euros in its accounts of "various financial entities or in the Bank of Spain", according to the document that Zarzuela has made public this Friday afternoon. A part of that money is deposited in what is known as a "cash" in order to have liquidity for various expenses.

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The bulk of that money (5.66 million euros) is deposited in financial entities that are not disclosed. Only 108.77 euros are funds deposited in the Bank of Spain. In cash, he has 104,919.78 euros available and another 62,286.21 in foreign currency.

"This amount provides the necessary liquidity to meet the payments corresponding to the expenses produced by the Institution, in addition to facilitating the advances corresponding to expenses belonging to other Organizations or Institutions that are advanced by the House of HM the King but that will finally be assumed by said entities”, specifies the Intervention report.

In total, Zarzuela is owed 402,364.19 euros – most of which correspond to different State departments. And it is that beyond the budget allocation that the monarchy receives annually from the General State Budgets and which is around eight million euros, the ministries assume the bulk of the expenses derived from the activity of the Head of State.

Most of the debt corresponds "to advance payments by the House of HM the King that are finally assumed by other Organizations or Institutions and whose reimbursement is in process or pending payment." “As of December 31, 2021, the accounting imputation has been carried out as an expense of the assets that make up the account “Obligations by other organizations. Cava“given the change in the procedure for compensation of expenses with the Ministry of Foreign Affairs, European Union and Cooperation, which will directly assume the same without them being anticipated and compensated by the House of HM the King”, collects the report of the dependent department of Treasury.

Another part of the debt corresponds to payments made by Zarzuela for members of the royal family who later have to bear the cost. "Also included among the debtors are the payments made by the entity, as a payment mediator, on behalf of members of the Royal Family, for subsequent reimbursement by them," says the document, which assumes that the debts will be satisfied: “Given the nature of the debtors, the impairment of the aforementioned collection rights is not considered probable”.

The Royal House has released this Friday the economic information related to the year 2021 as well as the inventory of rInstitutional gifts received by the royal family in which there is no trace of the gifts received by Juan Carlos I during his stay in Abu Dhabi. Regarding the accounts, once again the bulk of the expense of the Zarzuela budget allocation goes to personnel (four million euros). However, it only assumes the salaries of the management staff (a total of eleven people who receive around 850,000 euros) and the salary supplements to the staff provided by other departments, such as the Ministry of the Presidency or National Heritage, among others. That figure amounts to 2.58 million euros.

In 2021 Zarzuela only had one employee hired directly, according to the report of the Intervention (last year there were two), who received about 77,000 euros.

The salaries of Felipe VI, Queen Letizia and Sofía Emeritus also come from the budget allocation after Juan Carlos I stopped receiving it due to the scandals of his finances. The head of state earns 253,850 euros a year. A month ago Felipe VI announced his assets for the first time: 2.5 million euros, of which the majority are bank deposits and some 300,000 euros are art objects, antiques and jewelry. The revelation did not include the queen, who earns 139,610 euros, or Sofia of Greece, who earns 114,240 euros.


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