NewzThe Spanish government is set to approve a new regional financing system today during a meeting of the Fiscal and Financial Policy Council (CPFF) in Madrid. Minister of Finance Arcadi España has secured the path forward for the proposal, which will be voted on by the economic councillors representing Spain's autonomous communities.
The approval process moves forward despite the notable absence of the Community of Madrid, which has chosen not to participate. The CPFF brings together regional economic chiefs to coordinate fiscal policy with the central state administration, making today's vote a significant milestone in national budgetary policy despite the political friction caused by Madrid's non-participation.
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