Spain is one of the only two countries that have not submitted a budget plan to the EU because it does not have accounts. Brussels points this out in the autumn package of the European semester, a document that should analyze Spain's budgetary information but does not mention it because, simply, the Government has not sent it. It did not do so last year and is not doing it this year either.
Furthermore, the Belgian Government has just approved a multi-year budget plan, which includes a cut of 9.200 million until 2029, and once approved, it will leave Spain as the only country without accounts. But there is more. In its extensive evaluation, the Commission also points out that employment and the risk of poverty in Spain are in a "critical situation", and there is also a warning about the increase in net spending. In other words, there is a risk of raising public expenditure above what was committed with the EU.
"Italy, Romania, Spain, and Belgium are in a critical situation, with relatively low employment rates [below 72.5%]," the Commission initially points out, and then goes on to elaborate: "The labor market continued to improve but still presents challenges. The employment rate increased to 71.4% in 2024 [compared to 75.8% in the EU], supported by solid economic growth and an increase in employment in the healthcare, education, hospitality, ICT, and professional services sectors. However, due to the significant gap from the EU average, this indicator is now considered a critical situation," certifies the EU.
"Spain faces challenges in terms of social protection and inclusion," continues the Commission. "In 2024, the proportion of the population at risk of poverty or social exclusion [AROPE] decreased to 25.8%, while the corresponding rate for children slightly increased to 34.6%. Both rates were well above the EU averages [21.0% and 24.2%, respectively] and continue to indicate critical situations," Brussels certifies.
In addition, the Commission places Spain at the same level as Bulgaria and Hungary in terms of "risk of fiscal non-compliance." "For Spain, it is expected that the growth of net spending in 2026 will exceed the limit recommended by the Council, but the deviation is below 0.3% [annually] and 0.6% of GDP [cumulative]. Therefore, it is estimated that Spain will be at risk of exceeding the recommended maximum growth of net spending in 2026," Brussels points out. But all this is, of course, under constant policies. Because, as the EU has already made clear and is evident, Spain still does not have a Budget.