Valencia. The Ministry of Finance, from the General Directorate of Budgets, has generated credit for an amount of 291.8 million from the Covid fund of the central Government to cover the Ministry of Health and Innovation and Universities. As reported by the Treasury, most of the funds released will be directed to maintaining the health system, although part of the credit will also go to finance research and public health programs.
The central government fund provides for the Valencian Community a total of 1,485.6 million euros divided into four tranches. This amount represents approximately 9.2% of the 16,000 million with which the fund is endowed and more than 6.5% of the Generalitat’s budget for 2020, in line with the population and economic weight of the Valencian Community as a whole of the country, which shows that the Government has addressed the claims in the distribution. In addition, it is non-refundable, that is, it does not generate a deficit or debt, which is a relief for regional accounts.
To date, the Generalitat has generated corresponding credit for an amount of 970.8 million through different resolutions. The part not included corresponds to a tranche that is to compensate for the decrease in income due to the fall in economic activity.
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