This was stated by Rocío Albert, Minister of Economy, Finance, and Employment, during her appearance at the Madrid Assembly. The minister detailed the autonomous fiscal initiatives aimed at mitigating the economic repercussions of the conflict, criticizing the Prime Minister's stance for, in her opinion, “using a conflict to further divide Spaniards.”
Albert warned that the impact of these measures would be reflected in the regional GDP, which will experience slower growth. She emphasized that Madrid refinanced its debt before the conflict began, which provides it with a better capacity to adapt to potential economic consequences. However, she warned about the increase in costs for its projects, such as the Plan Vive or the expansion of the Madrid Metro, which have seen their prices rise by up to 23%.
“"Filling the tank for a transporter, for example, is 500 euros. Fuel accounts for 40% of a transporter's cost. The transporter has to pay it now, but it takes a couple of months for the invoices to be processed."
The minister also highlighted the disproportionate increase in the price of construction materials, which creates a “real risk that some tenders will be left vacant.” Furthermore, she mentioned that fertilizers have surged by 45%, affecting the primary sector and, ultimately, the prices paid by consumers.
The impact extends to social services, affecting elderly care homes, day centers, disability centers, school transport, and canteens. These services, which cater to the most vulnerable citizens, see the cost directly transferred to “household budgets.”
Albert asserted that Madrid has managed its finances “with its house in order” and has anticipated “possible turbulences” by refinancing its debt, which has resulted in savings of “millions of euros.” However, she criticized the Government of Spain for not updating the advance payments, which are crucial for financing public services for Madrid residents, despite taking credit for the anti-crisis measures.
