The Minister of Territorial Policy and Public Service, Carolina Darias, and the Minister of Finance, María Jesús Montero, have chaired the meeting of the National Commission of Local Administration (CNAL), together with representatives of the FEMP, headed by its president, Abel Caballero.
The Minister of Finance has informed CNAL of the budgetary stability objectives of 2020 and the period 2021-2023 for local entities, which implies budgetary balance in every year.
The public debt target for local entities is set at 2% for 2020 and 2021; 1.9% in 2022; and 1.8% in 2023. On the other hand, the budgetary stability objective for all local entities is 0.0% for each of the years of the period 2020-2023
In addition, the spending rule in 2020 stands at 2.9%, a tenth more than in the current path approved in 2017. A measure that gives municipalities more scope to invest in social policies.
The meeting of the CNAL is convened to comply with the Organic Law of Budgetary Stability and Financial Sustainability in relation to the establishment of the objectives of budgetary stability and public debt.