Balearic budget cut and “few green shoots”

PALMA
THE recession has forced the Balearic government to reduce its budget for 2010 by nearly five percent.
The Minister for tax and Finance, Carles Manera, said yesterday that the government has approved a budget of 3'384 million euros for the coming year, 4.9 percent, 179 million euros, less than this year.

He explained that because of the current economic climate and a 1.5 percent downturn in the Balearic's Gross National Product, nearly double the Spanish national average, the government had little choice but to cut spending. “There are few green shoots” on the horizon he stated.

Although Manera did say that there has been a slight recovery in British and German GDP and this, he claimed, should fuel an increase in tourism numbers.

Social Services are going to suffer a 2.5 percent cut in funding, Education and Culture 3.3 percent, Work and Training a 2.2 percent reduction and Health and Consumer Affairs, a near seven percent cut back.