The CEV he defends the inclusion in the accounts of the game "demands" of 1,325 million conditioned by the reform of the financing regional
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The criticisms of the budgets of the Generalitat for 2019 does not cease. The accounts that had been prepared, the minister of Finance, Vicent Soler, are not to the liking of the employer's business, precisely for the sin of "over-optimistic". The Business Confederation of Valencia (CEV), whose front is Salvador Navarro, labeled them as "unreachable most of the items of income."
Although the CEV itself supports the Council in its efforts to include the baptized as "starting a protest" of 1,325 million euros -revenue forecast tied to the reform of the system of financing autonomous-, it is not believed the numbers of the collection. "The project of budgets of the Generalitat is based on a macro-economic framework, realistic that, in spite of his common sense, does not infer consistency on the estimates of revenue", explained the CEVen a press release this Tuesday.
that Is to say, the forecast of the income that makes the valencian Government can hardly defend itself "in view of the state of execution of the revenue of the current period, 2018, and the imminent slowdown of 0.4 points of our economy in 2019".
For example, on the direct taxes, the CEV remember the campaign of the income TAX (it is the most important, because it accounts for 89% of the total) has already been completed and, however, the implementation of the budget in 2018 barely reaches 85%. "Far from adapt to this circumstance and include it in the reality of an economy with slower growth, the forecast increase these items in a 11.6%", regrets the employer's autonomic.
The conclusion is that, "logically, the increase of 12.5% of the non-financial operations in anticipation of revenues and to the increase of 5.6% from the issuance of debt, allow for an increase in appropriations in the expenditure items". In other words, the Treasury has been able to balance a budget expansive in spending (with an increase of around 10%) to force 'inflate' the forecasts of revenue. "Another issue will be the actual execution and final of these expenditure items and investment throughout the year," says the CEV.
In this sense, stands out the increase of the majority of items for the primary sector, industry, energy and tourism ("highlights the significant commitment by the airport of Castellón"), or foreign trade. Yes, in trade notes "a reduction in the support to this sector, basically due to the intense drop in capital transfers, which are not compensated by the increase in current transfers".
however, the support on the role of the different sectors can be anything according to what the execution of items of income and the "possible expansion of the margin of the deficit."
In summary, the CEV concludes that "the conjunction of the chronic under-funding suffered by the Community of Valencia, together with the consequent accumulation of budget deficits financed through the public debt -which is already the second most important section of the entire budget-is a matter of concern, especially in an environment of economic slowdown and rises in rates in the short/medium term".
According to the criteria ofLearn more Updated Date: 09 November 2018, 20:01