Figures from the Department of Facenda 10.3 million interest costs for Galicia due to the central government’s delay in payment of installments. According to the Xunta, the lack of liquidity due to this delay forced the Galician government to sign credit policies, with the resulting financial cost increasing in debt.
The credit lines that the Community Treasury had to use to deal with these delays have already been returned and it is not expected that they will have to be used again for the rest of the year. Xunta payments in the first half of this year inject almost 7 billion euros in liquidity in the Galician economy.
The state has entered in September the updated monthly amount of deliveries as a deposit, “but it still took until a few days ago to pay for the delays”, as Facenda’s department explains.
In the first half of this year, 6.976 million euros of liquidity was injected into the region’s economy, an amount that represents 9% of regional GDP as indicated in the payment report of the Autonomous Administration prepared by the Department of Facenda.
According to the document, during this first part of the year, more than 4 billion were allocated to cover expenses such as payroll of Xunta staff -80% goes to the remuneration of Education and Sergas staff; universities; payment of pharmacy costs, as well as 219 million for local companies. Galicia closed the first half of 2024 with a payment to suppliers 13 days faster than the State Administration and 16 days than the community average.
