The Generalitat plans to request up to 11,800 million from the State liquidity fund
The Generalitat plans to borrow a total of 11,822 million euros from the Autonomous Liquidity Fund (FLA) in 2023, an amount less than the 12,447 million corresponding to the 2022 FLA. This is at least the forecast that the Department of Economy of the Generalitat does for next year, as stated in a forecast aimed at investors to which Efe has had access.
Of this amount for 2023, a total of 10,906 million will be used to face debt repayments, mainly to cover the payment of Loans from previous years of the FLA and other liquidity mechanisms authorized by the State. The State launched these instruments at the end of 2012, in the midst of the financial crisis, to help the communities to have liquidity at a time in which the financial markets they were closed to the debt issues of the autonomies.
82% of the resources cover the return of debt
In 2021, debt repayments linked to liquidity mechanisms -basically the FLA- accounted for 8,853 million, that is, 68% of the funds totals requested that year from the FLA itself, while in 2022 they will already account for 9,852 million, that is, 79.15% of the total, eleven more points. Looking ahead to 2023, the return on the debt associated with the different liquidity mechanisms will mean 9,726 millionaccording to the calculations of the Generalitat, which already represents 82.27% of the total resources that are borrowed.
Of the total of 11,822 million that are expected to be requested from the FLA, and beyond those 10,906 million mentioned that correspond to the liquidity mechanisms of the State, a total of 791 million will be requested to finance 0.3% deficit authorized for communities in 2023 and the remaining 125 million will be used for deal with negative clearance of the 2008 and 2009 financing system.
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