The Madrid City Council announced yesterday that it will have a budget of 5,481 million euros, 415 million more than in 2021, which makes it 8.2% higher than this year. The accounts of the capital aim to “consolidate the economic and social recovery” after the Covid and Filomena.

The budget for next year is focused on social issues, committed to the most vulnerable people, and on continuing to boost economic activity, which once again increases investment. Thus, the City Council figures this social spending at 1,007 million euros in 2022.

Next year the City Council will present a tax cut of 60 million euros, despite the uncertainty generated in recent days by the Constitutional Court ruling, they say.

Investments grew 23% to 603 million euros, 112 million more than in 2021 and 165% more than at the beginning of the mandate. In addition, if the investments carried out against the remaining treasury for 2022 and those of public companies are incorporated, the figure will reach 1,105 million euros. On the other hand, the territorial investment in the districts reaches 470 million euros, 86 million more than in 2021.

Funds and income
European money will give a boost to the capital of the region. The budget includes 75.4 million corresponding to the annuality of projects financed with European funds. The City Council has presented projects associated with these funds worth 345 million euros.

Similarly, the City Council also foresees an increase in revenue of 330 million euros, 6.1% more than in 2021, to reach 5,762 million. This figure serves as the axis for some accounts, they consider, “balanced.”