This report analyzes the draft General State Budget for 2023 (PGE) presented on October 6, and therefore focuses on the subsectors of the Central Administration and the Social Security Funds. AIReF detects notable shortcomings in the 2023 Budget and warns of its weakness as a key economic policy instrument.
Among the shortcomings, it highlights that the Budgets for 2023 underestimate the starting point by starting from revenue closing forecasts that do not incorporate the most recent information for 2022. Furthermore, they do not incorporate measures for a potentially high amount that will foreseeably be adopted, since the Government itself projects for 2023 the persistence of the economic circumstances that motivated them in 2022. Furthermore, the measures announced a week later are not included and the Budget Plan sent to Brussels includes a second scenario with more revenues and expenditures than the Budget.