The Consell de Govern of the Balearic Islands has approved the non-financial spending ceiling for 2025, amounting to 6.562.9 million euros, representing an increase of 197 million euros compared to 2024. This 3.1% increase marks a new record and reinforces the community’s commitment to budget balance, with a zero deficit expected for the second consecutive year.<\/p>\n
This spending ceiling, the highest in the history of the Balearic Islands, will strengthen public services and improve citizens’ disposable income. The Minister of Economy, Finance, and Innovation will present this proposal to the Parliament of the Balearic Islands, initiating the process of drafting the 2025 Budget Law.<\/p>\n
Non-financial revenues are projected to be 5.775 billion euros, while the remaining 787.8 million will be derived from national accounting adjustments. The regional financing system is expected to provide the majority, with 4.004.85 billion euros, a 1.1% increase from 2024. Additionally, tax revenues, driven by economic activity, are projected to reach 5.938.57 billion euros, reflecting a substantial increase of 483.59 million euros.<\/p>\n
On the other hand, the value-added tax (VAT) is expected to decrease by 13.1%, due to factors such as provisional settlements from previous years. However, the personal income tax is anticipated to grow significantly by 34.1%.<\/p>\n
In terms of European funds, a sharp decline in resources from the REACT program is expected, dropping from 179.6 million euros in 2024 to 9.3 million euros in 2025, reflecting a reduction in external contributions.<\/p>\n","protected":false},"excerpt":{"rendered":"