{"id":153218,"date":"2026-03-30T13:50:28","date_gmt":"2026-03-30T11:50:28","guid":{"rendered":"https:\/\/mallorcaglobalmag.es\/movilizacion-160-millones-baleares-conflicto-oriente-medio\/"},"modified":"2026-03-30T14:03:49","modified_gmt":"2026-03-30T12:03:49","slug":"movilizacion-160-millones-baleares-conflicto-oriente-medio","status":"publish","type":"post","link":"https:\/\/mallorcaglobalmag.es\/en\/movilizacion-160-millones-baleares-conflicto-oriente-medio\/","title":{"rendered":"The Balearic Islands mobilise more than 160 million to mitigate the impact of the conflict in the Middle East"},"content":{"rendered":"

The Govern of the Balearic Islands<\/strong> has announced the mobilisation of more than 160 million euros<\/strong> to address the economic effects arising from the conflict in the Middle East<\/strong>. The package of measures, presented to social partners, economic sectors, island councils and local authorities<\/strong>, aims to protect the business fabric, safeguard jobs and prevent rising costs from driving up grocery prices<\/strong>.<\/p>\n

\"measures

President of the Government, Margalida Prohens, during the presentation of the package of measures to social partners, economic sectors, island councils and local authorities. Photo: CAIB.<\/p><\/div>\n

The President, Marga Prohens<\/span><\/span>, said that this plan is the result of dialogue with the affected sectors<\/strong> and places the Balearic Islands among the first regions to activate their own measures<\/strong> in response to the international situation.<\/p>\n

Five pillars to support the Balearic economy<\/strong><\/span><\/h2>\n

The plan is structured around five main blocks combining liquidity, direct aid and structural measures<\/strong>.<\/p>\n

Firstly, 75 million euros in credit lines through ISBA<\/span><\/span> will be activated for companies and self-employed workers<\/strong>. These lines will cover 100% of guarantee costs<\/strong> and 90% of interest payments<\/strong>, making access to finance easier in a climate of uncertainty.<\/p>\n

The second block includes 36.75 million euros in direct aid for the sectors most affected<\/strong>. Of this amount, 13.5 million euros will go to the primary sector to offset rising costs in fuel, animal feed and fertilisers<\/strong>, as well as to encourage the consumption of local produce.<\/p>\n

A further 9.75 million euros will go to transport, including freight, discretionary transport and taxis<\/strong>, as well as a specific line for the scrapping of vehicles<\/strong>. The remaining 13.5 million euros<\/strong> will be allocated to industry, construction and trade<\/strong>, with measures to offset the rising cost of raw materials and transport<\/strong>, along with a new round of shopping and food vouchers<\/strong>.<\/p>\n

Administrative streamlining and tax measures<\/strong><\/span><\/h3>\n

The Government is also introducing measures to speed up the processing of aid<\/strong>, through regulatory changes and reinforced public staffing, with the aim of shortening decision times.<\/p>\n

In the tax sphere<\/strong>, the estimated impact amounts to 4 million euros<\/strong>. Among the measures is the reinstatement of the regional income tax deduction to offset rising variable-rate mortgage costs<\/strong>.<\/p>\n

In addition, a 50% reduction in port charges will apply to service companies, and a 100% reduction to professional fishers<\/strong>, initially until 30 June, with the possibility of an extension.<\/p>\n

Review of public contracts and attention to insularity<\/strong><\/span><\/h3>\n

The plan includes an allocation of 45 million euros for the revision of prices in public works and service contracts<\/strong>, with the aim of adapting them to rising costs and ensuring their viability.<\/p>\n

All measures will take into account the double insularity of Menorca and Ibiza<\/strong>, as well as the triple insularity of Formentera<\/strong>.<\/p>\n

Call for greater support from the State<\/strong><\/span><\/h2>\n

The President announced that the Government will request additional financial compensation or partial funding of the package from the central Government<\/strong>, as it considers the State measures insufficient<\/strong> for an island region.<\/p>\n

The plan will be approved by decree law at an extraordinary meeting of the Council of Government next Wednesday, with the intention of incorporating further contributions until then.<\/p>\n

Prohens stressed that this is a first package<\/strong>, which may be expanded depending on the evolution of the conflict<\/strong>, and announced that work is already under way on new social measures aimed at the most vulnerable groups<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Govern of the Balearic Islands has announced the mobilisation […]<\/a><\/p>\n","protected":false},"author":4,"featured_media":153216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1515],"tags":[],"class_list":["post-153218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-and-tourism"],"yoast_head":"\nBalearic Islands allocate 160 million amid Middle East conflict - Mallorca Global Mag<\/title>\n<meta name=\"description\" content=\"The Govern approves a plan including direct aid, business liquidity, tax measures and contract reviews to support the economy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mallorcaglobalmag.es\/en\/movilizacion-160-millones-baleares-conflicto-oriente-medio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Balearic Islands allocate 160 million amid Middle East conflict - 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