Mario Garcés, advisor to the Aragonese government, has qualified Aragon's economic situation somewhere between ?delicate? and ?compromised? after learning about the audit conducted by the region?s new government. The audit showed that Aragon?s debt totals to 3.332 billion euros, an amount equal to 10.1% of their GDP. It has tripled in the past three years and was just 1.517 billion euros in 2008 (4.5% of the GDP).
Aragon will end the year with an annual deficit of 943 million euros. They collected 4.655 billion euros in revenues and will pay out estimated total expenditures of 5.133 billion euros through December 31. The audit detected a 'gap' in regional government accounts of nearly 500 million unbudgeted euros.
400 million of that amount corresponds to cleanup debt and another 29 million to social services loans. More than 47 million euros of unallocated pending bills have been detected as well. 35.66 million corresponds to various departments within the regional government, while the other 11.2 million align with public companies and other small governmental agencies.
Further, the audit exposes agreement letters for 400 million euros, of which 200 million were not approved by the Consejo de Gobierno and were underwritten from the Corporación Pública Empresarial and the last Economic Advisory group.
