Autonomous communities reduce state loans to a minimum to finance themselves

Autonomous communities have had increased flexibility this year to find ways to finance their deficits, and they have taken advantage of it. Latest statistics from the Ministry of Finance show that the amount of low-cost Treasury loans allocated through the extraordinary liquidity mechanisms - most notably the Autonomous Liquidity Fund (FLA) - has fallen to its lowest level since 2012, when these mechanisms were established.

Meanwhile, resources raised in the market have grown nearly 30% compared to the previous period. César Cantalapiedra, senior director of the Finance Publics area at consultancy firm Analistas Financieros Internacionales (Afi), explains that "the mechanisms are being reduced, which was precisely one of the objectives, so that the communities progressively turn to the markets."