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Rules on regional spending to be relaxed, releasing €3bn into economy

Written by on September 14, 2020

Fiscal rules that limit regional authority spending are to be suspended in an effort to help the economy.

Minister of Finance – Maria Jesus Montero – said the rule changes will free up over 3 billion euros of spending across the country.

The Finance Ministry is to publish the decree in the coming weeks.

The rules were introduced in 2012 as part of the country’s recovery from the 2008 financial crisis, which prevents regions overspending.