The State will transfer 1,513 million euros to Catalonia today corresponding to an extraordinary fund announced last autumn and foreseen in the 2021 Budgets. The amount is part of the 9,440 million that the autonomies will receive for this concept, which represents 70% of the total (13,486 million).
Only Madrid , with 1,864 million; and Andalusia , with 1,650 million in this first installment, exceed Catalonia in amount. 30% of the remaining planned amount will be transferred next November, as announced by the Ministry of Finance . The fourth autonomy is the Valencian Community , with 1,400 million.
The distribution of these 13,486 million to the autonomies in two terms, one of 70% and the other of 30%, was decided at the Council for Fiscal and Financial Policy (CPFF) held on July 28. The delivery of 70% (9,440 million) is made this Friday and the remaining 4,046 million (6,488 million in Catalonia) next November.
This “additional and extraordinary” transfer to the autonomies is outside the financing system . The objective of this fund is that “the State assumes a part of the regional deficit and that, in this way, the communities have more room for maneuver and greater liquidity to face the economic consequences of the pandemic (…)” , according to the Treasury.
The distribution of resources is made with the adjusted population criterion . This extraordinary fund is in addition to the record installments on account of the ordinary financing system, which amount to 105,589 million this year and which in 2022 will grow by more than 6% to mark “a historic milestone” by exceeding 112,000 million.