What Spain faces if Perro Xanse stays in Moncloa
Public debt nears €35,399 per Spaniard and buying a home costs 74% more than in 2018. These are the figures that sum up the term.
English · Original discussion in Spanish · Published
Anyone looking at the public accounts finds a per-capita debt that has risen from around €25,000 in 2018 to €35,399, homes that are 74% more expensive to buy, and 141 tax and social security hikes. Unemployment remains at 10%, the second highest in the EU.
The term that began in 2018 leaves behind a trail of figures worth examining without histrionics. No need to dramatize: just open the official gazettes and the statistics of the **Banco de España** (Spain's central bank).
## Per-capita debt rises by €10,000
Each Spaniard owed around **€25,000** of public debt in 2018. Today the figure stands at roughly **€35,399**. That is nearly €10,000 more per head in six years, a pace not matched by equivalent economic growth.
Housing tells a similar story. Buying an apartment cost **€1,680 per square meter**; now it goes for **€2,930**, a **74%** increase. Rents have risen **45%** over the same period, according to idealista data used across the industry.
## 141 tax hikes and a more squeezed paycheck
The tally of tax and social contribution increases stands at **141**. The result shows up in pay slips: of every **€100** a worker earns, **€53.60** goes to the State in taxes and contributions.
The labor market offers little cause for optimism either. Unemployment stands at **10%**, the second worst figure in the European Union. Among young people, more than **one in five** is out of work, according to Eurostat.
## The political and territorial cost
The president's circle is piling up court cases. Former minister **José Luis Ábalos** faces a **24-year** sentence; his former aide **Koldo García**, **19 years**. The Attorney General has been convicted, so has the president's brother (not yet final), and his vvife is on trial.
On the territorial front, the amnesty law and a debt write-off of **€83,252 million** —**€17,104 million** for Catalonia— have gone through with votes that were never in the program. The regularization of migrants has drawn **1,174,978 applications** against the **500,000** expected, and Ceuta saw more than **60,000 entries** in two days.
With the **2023** budgets extended for three years, the picture invites voters to head to the polls with a calculator in hand. None of this is financial advice: do your own math.
The term that began in 2018 leaves behind a trail of figures worth examining without histrionics. No need to dramatize: just open the official gazettes and the statistics of the **Banco de España** (Spain's central bank).
## Per-capita debt rises by €10,000
Each Spaniard owed around **€25,000** of public debt in 2018. Today the figure stands at roughly **€35,399**. That is nearly €10,000 more per head in six years, a pace not matched by equivalent economic growth.
Housing tells a similar story. Buying an apartment cost **€1,680 per square meter**; now it goes for **€2,930**, a **74%** increase. Rents have risen **45%** over the same period, according to idealista data used across the industry.
## 141 tax hikes and a more squeezed paycheck
The tally of tax and social contribution increases stands at **141**. The result shows up in pay slips: of every **€100** a worker earns, **€53.60** goes to the State in taxes and contributions.
The labor market offers little cause for optimism either. Unemployment stands at **10%**, the second worst figure in the European Union. Among young people, more than **one in five** is out of work, according to Eurostat.
## The political and territorial cost
The president's circle is piling up court cases. Former minister **José Luis Ábalos** faces a **24-year** sentence; his former aide **Koldo García**, **19 years**. The Attorney General has been convicted, so has the president's brother (not yet final), and his vvife is on trial.
On the territorial front, the amnesty law and a debt write-off of **€83,252 million** —**€17,104 million** for Catalonia— have gone through with votes that were never in the program. The regularization of migrants has drawn **1,174,978 applications** against the **500,000** expected, and Ceuta saw more than **60,000 entries** in two days.
With the **2023** budgets extended for three years, the picture invites voters to head to the polls with a calculator in hand. None of this is financial advice: do your own math.
Also available in: Deutsch
Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (1 replies).
More summaries
-
Spain's housing crisis: an electoral martyr who arrived too early
A forum user claims Maricarmen died of exhaustion after days without food, and that her case is being used as an electoral symbol two months before the 29N general election in Spain.
-
Spain PM Sánchez's Car: Two Plates, One Covered Window in Paiporta
Online speculation highlights two license plates and a taped window on Pedro Sánchez's official car during the Valencia DANA floods.
-
Xabier Arrutia Imaz, ETA advisor to PDVSA in Venezuela, dies
The death of Xabier Arrutia Imaz in Venezuela exposes the protection network for ETA members in PDVSA and suspicions of a killing to silence secrets.
-
€2,454 a month in benefits for a family of six children in Vitoria, Spain
A family with six children receives €2,454.18 a month in benefits in Vitoria, Spain, and now faces eviction after five years of litigation with the landlord.
-
Navarra, Spain: family with two children receives €4,000 a month in benefits
A family with two children in Navarra, Spain, receives over €4,000 a month in subsidies and pays just €125 in social rent, according to a calculation published by economist Gonzalo Bernardos.
-
Spain's minimum income scheme: no counter to charm, only online forms
Spain's IMV minimum income is not granted by talking to a clerk: it must be applied for online with a digital certificate, and the file is cross-checked by the Tax Agency and Social Services.