It has been a grievance for the Balearics for many years. The system of regional financing has consistently awarded the islands less than the average. There has been an improvement in this regard, but the 2023 distribution continues to place the Balearics below the average.
Madrid will distribute 134,335 million euros to the regions next year; these exclude the Basque Country and Navarre which, for historical reasons, are subject to a different system. Per capita, this distribution equates to a national average of 3,014 euros; for the Balearics it is 2,848 euros.
The current system of financing expired some years ago. Reform hasn't occurred for a variety of reasons, one being that the regions are not able to arrive at a consensus. Valencia, which almost every year receives least per inhabitant, is one of the regions most agitating for reform; likewise the Balearics. The difference between the region which will most benefit in 2023, Cantabria, and Valencia is striking - 3,801 euros per person versus 2,659 euros.
Despite the Balearics seemingly being disadvantaged by the system, the islands will receive a total of 3,350 million euros from the 2023 distribution, the highest amount ever and up by almost 700 million euros compared with the current year. President Armengol says of this that it is an "historic rise and a commitment by the Spanish government to the regional system".
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