• The saving in the global calculation of interests is estimated at 350 million euros for the whole of the AAPP
  • The new funds will give liquidity to the Territorial Administrations for 39,869 million in very favorable conditions

In 2015, the Public Treasury will assume a leading role in the financing of all Public Administrations. Through the new Fund for Financing Autonomous Communities and the Fund for Financing for Local Entities, the Treasury will provide up to 39,869 million euros of financing to autonomous communities (Autonomous Communities) and local entities (EELL). This will raise the net issuance figure for the Public Treasury to 55,000 million in 2015 and will allow for an overall saving of interest in the environment of 350 million for all Public Administrations.

Territorial Administrations may thus benefit from very favorable financial costs, which will improve compliance with the objectives of budgetary consolidation. The new system integrates all of the state financing mechanisms to the existing Territorial Administrations. In addition, a new mechanism or facility is created so that autonomous communities that meet fiscal objectives can benefit from zero-rate financing. On the other hand, a new facility is enabled for local authorities through a mechanism aimed primarily at financing investments in very favorable conditions.

The replacement of the issuance of CCAA and EELL by issuance of the Treasury will generate savings as a result of the lower interest rates at which the Treasury is financed in relation to the Territorial Haciendas. These savings are estimated at around 350 million euros in 2015 for all Public Administrations.

As a result of these measures, the Treasury expects the net issuance for 2015 to reach 55,000 million euros, the same figure as the one registered in 2014. This amount is € 8,000 M higher than the one announced last September because the Treasury will have than to issue more debt to replace the indebtedness of Autonomous Communities and Local Entities.

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