The Government has advanced this afternoon that it does not expect Spain to be in a position to comply with the deficit reduction commitments imposed by the European Commission at least until 2025. The Minister of Finance, María Jesús Montero, has made this warning during the plenary session of the Congress of Deputies, in which it has defended the suspension of fiscal rules and has underlined the need to approve General State Budgets in which the spending ceiling will be the highest recorded: 196,142 million euros.

The rules imposed by the European Commission on the members of the union go through the establishment of a deficit threshold of 3% above which the economic policy of the countries is under surveillance. The spending that the Covid has entailed since March 2020 has already shot the deficit to 11% that year and the Government's forecast is that, with a rebound that will make the economy grow 6.5% in 2021, the excess spending on income stands at 8.4% to go to 5% in 2022. These are rates that the Government establishes as guidelines and that generate some skepticism among analysts. Their high rate of improvement suggests that they are difficult to achieve without an increase in tax revenues that Montero has not put on the table.

The head of the Treasury has indicated, however, that the rate of improvement in the deficit will drop significantly from 2022 on admitting that the public deficit will continue to be above the 3% threshold in 2024. The period of non-compliance with Brussels derived from the The emergence of the Covid that the Government foresees would therefore extend the five years that go from 2020 to 2025. "It will be due to that environment, in 2024, if possible, approaching 2025, when we will be able to present a path that it takes up this commitment to fiscal consolidation, vis-à-vis the European authorities, "he indicated in Congress.

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