2015 budget amounts to more than €4 billion

THE 2015 budget of the Balearic Islands amounts to more than €4 billion.

This represents a 4.14 per cent increase year-over-year. The funds are to be invested in speeding up the growth of the Balearic economy and consolidating fundamental and essential public services, said Tax and Budget Councillor Jose Vicente Mari during a press conference.

As stated by Mari, 80 per cent of the budget has been earmarked for social policies. The Health Department is to be allocated €123 million more than in 2014 (+10.29 per cent), while the budget of the Education, Culture and Universities Department is to increase by €39 million (+5.12 per cent) and the Family and Social Services Department is to be allocated €21 million more than in 2014 (+17.58 per cent).

On the other hand, the money earmarked for the Economy and Competitiveness Department is to register a 10.65 per cent increase year-over-year, whilst the Agriculture, Environment and Territory Department is to be allocated 7.08 per cent more than in 2014.

The budget for 2015 is based on a positive growth projection, according to which the economy of the Balearic Islands is to take a 2.1 per cent upturn in 2014, which surpasses the growth projections of the rest of the country (2 per cent) and of the Eurozone (1.7 per cent).