Catalonia asks to be able to combine state liquidity with issuing debt in 2023

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 The Catalan Minister of Economy, Jaume Giró, has asked the Minister of Finance, María Jesús Montero, that in 2023 the Generalitat can combine access to the Financing Fund for communities, the mechanism enabled by the State to give liquidity to the autonomies, with the possibility of re-issuing debt.

The Minister explained to Efe that the Generalitat complies with the requirements set by the State to be able to reissue debt on the markets.

Specifically, Catalonia closed 2021 with a deficit of 0.3% of GDP -less than the 1.1% set as a reference-, it has an average payment period to suppliers that does not exceed 30 days -something that has not happened since 2008- and the consideration of investment grade by two rating agencies -it has not happened for 12 years-, said Giró, who has recalled that the fiscal rules are suspended.

Thus, the Generalitat has formally requested the Treasury to adhere in 2023 to the Financial Facility compartment of the Financing Fund for Autonomous Communities for 2023 -a mechanism for providing liquidity to the autonomies enabled by the State- and has asked to be able to combine this route with the issuance of debt in the financial markets.

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