The Independent Authority for Fiscal Responsibility (AIReF) published a study on financial instruments to support SMEs today, which forms part of the first phase of the 2022-2026 Spending Review. This study proposes strengthening the coordination of financial instruments and building a comprehensive ecosystem of business support.
The evaluation reveals funding gaps of around 0.8% of GDP in 2022 in debt operations and 4.8% of GDP in the field of venture capital. These gaps, primarily stemming from information asymmetries between lenders or investors and companies, justify public intervention through various financial instruments.
