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AIReF Tallies Spain’s Regional Debt Relief at €83 Billion, Trimming Burden by 5.1 Points

The fiscal watchdog stresses that lasting sustainability depends on enforceable rules alongside a revamped financing system.

Overview

  • The plan would cut interest costs by €2,532 million in the first year and €15,657 million through 2030.
  • Debt-limit compliance for the autonomous tier would move up to 2029 from a previous estimate of 2041.
  • Benefits vary widely, with the largest relative reductions in Andalucía (8.6 p.p.), Castilla-La Mancha (8.5), Murcia (7.7) and Comunidad Valenciana (7.4).
  • High-debt regions would remain stretched even after relief, including Comunidad Valenciana near 32.5% of GDP and both Catalunya and Murcia above 23%.
  • Uptake is optional and uneven so far, with Galicia estimating €767 million in savings yet maintaining its refusal to request the write-off.