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The Canary Islands Has the Largest Budget Surplus in Spain Canary Islands Report | Canary Islands Report

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The Canary Islands Has the Largest Budget Surplus in Spain

The Canary Islands Has the Largest Budget Surplus in Spain

By the end of July, the Canary Islands reported a surplus of 567 million euros, equivalent to 1.23% of gross domestic product (GDP), and for this autonomous community, it is the largest surplus in the whole of Spain in absolute figures and in comparative terms.

According to data provided by the Ministry of Finance, the Canary Islands has multiplied by four, the surplus with which it had in July of last year, when its income exceeded by 137 million euros to its expenses (0.31% of GDP).

The deficit of all public administrations in Spain closed June at 22,083 million euros, a figure that is equivalent to 1.82% of GDP, and represents a decrease of 13.2% over the same period in 2017.

The official target for the whole year is a public deficit of 2.2% of GDP, although the Spanish Government has already informed Brussels that this will be around 2.7% of GDP.

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