05/09/2020 12:55 – Updated: 05/09/2020 12:59
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The S&P rating agency has maintained the rating of the Community of Madrid (A- / A-2), despite the effects of the coronavirus health crisis, and has highlighted the “positive” perspective of the region in the long and short term future, in addition to its “potential” for the recovery between 2021 and 2022.
Specifically, the agency has put the focus on its ability to access external financing and has emphasized that it is an institution “regular issuer in the bond markets”, according to sources stressed by Europa Press from the Ministry of Finance and Public Administration.
In this sense, S&P trusts Madrid to continue financing its needs in these markets and assert your “economic leadership” with respect to the rest of the Spanish regions.
When the pandemic comes under control, the regional economy is expected to stand at pre-crisis levels in 2021
In this sense, from the Autonomous executive They recalled that in recent weeks the Community has launched sustainable bonds to cover health spending; among them the first broadcast of a Social Health Bonus in the country (52 million euros) and that of a Green Bonus (700 million euros).
Thus, the autonomous government has stated that S&P hopes that the funds contributed by the central executive to the autonomous communities will be sufficient to absorb the “enormous expenses” that it has had to take over Madrid for the Covid-19, in such a way that, when the pandemic is under control, the regional economy will be in pre-crisis levels in 2021.
Madrid closed 2019 as the autonomous community of the common regime system with a lower level of debt
In this regard, the Ministry has recalled that Madrid closed 2019 as the autonomous community of the common regime system with a lower level of debt, along with the Canary Islands, located in 14 percent of Gross Domestic Product (GDP) and that only the Basque Country, and due to the effect of the regional government, has lower levels, according to the latest data published by the Bank of Spain.
In addition, the region met in 2019 with the budget stability objective, registering a public deficit of 0.1 percent of its GDP.
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