Overview

• The government did not submit the 2026 national budget to Congress by the Sept. 30 constitutional deadline.
• Finance officials are preparing to present the fiscal path and convene the CPFF to share new deficit targets even without guaranteed parliamentary backing.
• Recent defeats in Congress highlight deteriorating ties with Junts and Podemos, complicating the majority needed to pass new accounts.
• Approval before year‑end is described as practically unviable, making a rollover of the 2023 budget likely unless negotiations shift.
• Extremadura’s president María Guardiola warned she will call early elections if the 2026 regional budget fails, plans to register the bill in mid‑October alongside a rules change to secure four‑year terms, and the national arms‑embargo decree on Israel faces uncertain support in Congress.