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Report 5 surplus or deficit of catalan state

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Report 5 surplus or deficit of catalan state

  1. 1. Deficit or surplus? May 2011
  2. 2. Debt Catalan Government 2011 ► Debt december 2010: 38.056 Mi € ► Expected Deficit 2011: 5.408 Mi € CCN 12.02.2011 (Source: Budget 2011 Catalan Government page 23, Ara, daily newspaper) 2
  3. 3. Debt Catalan Government 2011 ► Budget reduction 2011: - 2.680 Mi € ► Debt amortization 2011: 7.400 Mi € AMORTITZATION CALENDAR (LONG AND SHORT TERM) (Sources: http://www15.gencat.cat/ecofin_wpres11/pdf/PRE_P_CAT.pdf, http://www20.gencat.cat/docs/economia/Documents/Arxius/Deute_Public/Deute_GenCat_12-10.pdf) 3
  4. 4. To maintain the present level of services for its citizens, Catalonia has to sell debt to compensate the enormous fiscal deficit it suffers The Catalan countries are the most fiscally punished and also the most debt ridden Debt level of each regional government compared to it’s fiscal balance Pay more than they receive and have a level of debt above the average Catalonia Receive more than what they pay and have a level of debt over the average Valencia Region Castilla - La Mancha Balearic Islands Public Debt as compared to their GDP (2010) Galicia Navarra Rioja Murcia Madrid Canarias Andalucía Aragón Basc Country Pay more than what they receive and have a level of debt below the average Extremadura Castilla-León Cantabria Asturias Receive more than what they pay and have a level of debt below the average Fiscal Balance with respect to their GDP (2005) Source: Cinco Días, Data fiscal balance calculated by the State with thesystem of monetary flux and with a share of Company tax of 1/3 criteria according to the territori distribution of salaris income, gross added value and investment) Carles Boix 4
  5. 5. The long range and continuous fiscal deficit has forced the Catalan Government to sell more debt The debt evolution of the Generalitat de Catalunya (Meuros) Debt of the Generalitat Debt of the Public companies of the Generalitat The present catalan debt could be paid back in two years if Catalonia did not have fiscal deficit Source: Bank of Spain 5
  6. 6. Catalonia generates sufficient income Evolution of the Catalan Government debt 100,000 90,660 90,000 80,000 Accumulated tax transfer spoliation 74,057 Millions € 70,000 60,000 57,142 50,000 Public companies debt Deute empreses Publiques 40,000 37,345 Generalitat Government Deute Govern de la debt Generalitat DeuteDebt Generalitat de Total total Catalunya Accumulated fiscal Espoli fiscal acumulat 30,000 20,000 18,068 10,000 spoliation 0 2005 2006 2007 2008 2009 2010 Sources: Bank of Spain, Antoni Castells, Minstry of Economi and Finance of the Generalitat de Catalunya 7.11.2009 - Average fiscal deficit 9,2%GDP 6
  7. 7. Balance of Generalitat public accounts in several scenarios 60,000 € 52,604 50,000 € Surplus of a Catalan State and zero public debt in 5 yrs 40,000 € 30,000 € 31,842 20,000 € 11,081 10,000 € ROC A LA FAIXA 100% tax collection Catalunya Estat (100% recaptació) 2% GDP tax transfer (like ROC A LA FAIXA com USA) USA (2% 'solidaritat') 0€ 2006 -10,000 € 2007 2008 2009 2010 4% GDP tax transfer (like ROC A LA FAIXA com Germany) Alemanya (4% 'solidaritat') -20,000 € 7
  8. 8. Només amb un Estat propi Catalunya serà econòmicament viable. Empresaris per l’Estat propi www.ccncat.cat info@ccncat.cat 8

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