The economic balance of the Autonomous Communities: Castilla-La Mancha and Madrid lead in GDP, Valencia in debt

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Today the polls open in Spain waiting for 35,539,083 voters to decide the political future of 8,087 municipalities, 12 communities and two autonomous cities. On the local side, except in large cities, citizens exercise a vote of closeness to the candidacies and often outside the acronym. On the contrary, in the autonomies the color of the party and the model it proposes, mainly in the economic field, is decisive when choosing a ballot. That the citizens

They vote for you tempting your pocket and raising their expectations of progress is a reality. All the parties that participate in the elections have pivoted their campaigns on the economic proposals that affect social welfare. But, beyond the promises, the voter analyzes reality, weighs their needs and priorities, compares with neighbors and decides.

The options are two: a formula that affects taxes to raise revenue and allow the Government to redistribute spending and another that reduces tax burdens and allows the citizen to dispose to a greater extent of his income and decide his employment.

In short, choose between a more interventionist model or a more liberal one; between one that prioritizes the most vulnerable classes or another that bets mainly on the middle classes; between one that emphasizes state action, aid and public services or another that encourages private initiative, incentives for activity and competition.

The review of the four years of the legislature, since 2019, draws a line of ups and downs in the indicators that most affect citizens and that are probably key to decide. This has been a stage marked by the

Covid

and, in its final phase, by the burdensome derivatives of the

Ukrainian War

. Two conditions that weigh on all territories but do not overcome at the same rate.

The GDP of the comeback

If the focus is on economic growth, in short, on the ability to overcome the enormous blow suffered by activity as a result of the pandemic, two territories stand out:

and

. Both lead the recovery ranking with growth of

in the first quarter of this year 2.1% higher than they had in the same period of 2019. The Madrid government has done so by betting on commercial freedom, low taxes and the reduction of bureaucratic obstacles. The Castilian-La Mancha Executive has played its cards by influencing the attraction of investments, the creation of companies and the value of the agricultural sector.

On the contrary,

and

They have not yet managed to overcome the slump. Its GDP today is lower than it was four years ago. The two island communities, both with coalition governments led by the

PSOE

, are the furthest behind. However, the main analysis centers point to substantial growth for these two territories in the year as a whole, driven mainly by their tourism industry.

The burden of unemployment

The labor market is always key when it comes to inducing votes.

Cantabria

and Madrid have the lowest unemployment rate. Extremadura, the Balearic Islands, the Canary Islands and Castilla-La Mancha, which have the highest, clearly exceeding the national average.

However, if the data is compared with that of the same period four years ago, it is verified that the effort and success in lowering the level of unemployment has been uneven and holds surprises. For example, the Canary Islands, with a pact between PSOE,

New Canary Islands

,

Can

and

, despite having the third highest rate (17.1%), is the community that has reduced it the most compared to 2019, specifically almost four points. And the same happens with Extremadura, presided over with an absolute majority by the socialist

Guillermo Fernandez Vara

, which has gone from unemployment of 22.5% at the beginning of the legislature to 19.5% today.

Aragon and Cantabria are, on the other hand, the ones that show the best behavior in this section. Not only do they have lower unemployment, 8.9% and 9.3% respectively, but they are also among those that have managed to reduce it the most in these four years. This data is a success for governments led by

Javier Lambán

(PSOE) and

Miguel Angel Revilla

(

PRC

).

Madrid, with

Isabel Diaz Ayuso

In front, it is the fourth community with the lowest unemployment (11%), but it has only lowered by seven tenths the level of four years ago. This same reduction is what Castilla-La Mancha has achieved with

Emiliano Garcia-Page

, although this community still has an unemployment rate of 15%, 1.8 points higher than that of the country as a whole.

The

It is in eighth position with 13.78% unemployment. The success of the Government of

Ximo Puig

with

Compromís

and

UP

When it comes to reducing it in these four years it has been poor: barely three tenths. Puig says that Valencia "is better than ever" compared to the data of 2015. In the first legislature of the

, it is true, he made remarkable progress, but not so in this second one.

For its part, Navarre, with a government led by the socialist

Maria Chivite

with support from

, We can and

IU

, has been the one that has seen its unemployment rate worsen the most, going from 8.2% in the first quarter of 2019 to 12.1% today. Increase, but less abrupt, has been that of the Balearic Islands under the presidency of

(PSOE); In this case its unemployment rate has gone from 17% to 18.1%.

Debt per head

The public debt also marks important differences between the autonomies. Only Asturias, the Canary Islands and Navarra have managed to reduce their amount compared to 2019. In relation to GDP, the Valencian Community is the one with the highest debt: 55,032 million representing 44.4% of its GDP. On each Valencian weighs an invoice of 10,777 euros. This very high debt is largely due to the underfinancing that this territory supports.

It is followed by Castilla-La Mancha with a debt of 33.4% of GDP, which means for each citizen a debt of 7,541 euros.

Murcia

It also has a very high debt level, 32.2%, which translates into a per capita bill of 7,442 euros. In the Balearic Islands, debt represents 26.6% of its GDP, which implies 7,201 euros per inhabitant. The Canaries are the ones who bear a lower debt, 2,881 euros, followed by the Asturians, with 4,195 euros.

Madrid is the one with the lowest level of debt: 13.5%. On each Madrilenian weighs a bill of 5,102 euros. Madrid's debt is not with the State, but fundamentally with Spanish and foreign banks and bonds. A similar portfolio is exhibited by Navarra.

Taxes

Key factor when defining the model as more interventionist or more liberal. Madrid is the community with the lowest income taxes: its minimum rate is 18% (only improved by Navarra with 13%), and the maximum, which affects 60,000 euros of income onwards, is 45% (in Navarra it amounts to 52%).

Madrid's tax policy arouses the reproach of other Autonomous Communities, which accuse Ayuso of

when applying a strong deflatation in the autonomic section of the

and 99% discount on inheritance and gift tax and 100% on wealth tax. Madrid advocates the liberal recipe according to which the tax cut favors investment, savings and consumption and thereby generates growth and employment.

The community with the highest income taxes is Valencia. Its minimum rate is 21.4% and the maximum reaches 54%. In Valencia, the regional rate of personal income tax is, in practically all income brackets, higher than the state rate.

Prices

The war in Ukraine has helped accelerate a price escalation that has been brewing since the end of the pandemic. Inflation is currently one of the main risks to the health of the European and Spanish economy.

In April, the

The Canary Islands registered the highest year-on-year figure with 5.5%, a striking figure since, in the same month of 2019, this community had the lowest inflation, 0.9%.

After the Canary Islands are Aragon, the Balearic Islands and Murcia with 4.6%. The latter two have also suffered a very considerable jump in prices since the beginning of the legislature.

The lowest CPI is Madrid with 3.4%. Four years ago, inflation in this region was 1.8%. It is followed by Extremadura with 3.8%. The rest of the autonomies that vote today oscillates between 4 and 4.3%.

Public services

EDUCATION

. Of the Autonomous Communities that go to the polls today, Navarra is the one that spends the most money, with 1,349 euros per capita. The red lanterns are Madrid and the Canary Islands, with 819 and 907 euros respectively. Castilla-La Mancha and Extremadura are the ones that are most committed to public education. On the contrary, in Madrid just over 55% of students study in a public center while 30% opt for subsidized centers.

HEALTH

. As in Education, the differences between the Autonomous Communities are very important. Extremadura and the Canary Islands are the autonomous regions in which the waiting time to be operated is greater: 156 and 157 days respectively. In Madrid the average wait is 63 days; in Navarra, 85 and in Valencia, 88. Madrid has the lowest rate of patients on the waiting list per 1,000 inhabitants, 10.68%, and Cantabria, the highest, with 26.9%.