Economy

10 Years Ago in Aragon: Each Resident Needed 80 Workdays to Pay Regional Debt

Ten years ago, Aragón Digital was already reporting the news shaping Aragon's current affairs. On September 22, 2016, a study by the Independent Authority for Fiscal Responsibility (Airef) estimated that each resident of the region would need 80 workdays to pay off its regional debt.
10 Years Ago in Aragon: Each Resident Needed 80 Workdays to Pay Regional Debt

The figure rose considerably when the so-called shared debt was added, most of it corresponding to the central government and Social Security funds. In that scenario, each resident of Aragon would have had to devote 252 workdays to covering the total debt.

The data formed part of the new Debt Observatory presented by Airef at the time, a tool designed to analyze the main indicators and financial sustainability scenarios of the various public administrations on a quarterly basis.

The comparison between regions showed significant differences. Catalonia, the Valencian Community, the Balearic Islands, Murcia and Castilla-La Mancha exceeded 100 workdays per resident to cover their own debt. The Valencian Community topped the list with 154 days, while the Basque Country and Madrid recorded the lowest figure, at 53.

The differences were even greater when shared debt was included. Extremadura, Castilla-La Mancha, the Valencian Community, Andalusia and the Region of Murcia exceeded 440 workdays per resident to cover the total debt.

Aragon's 80 days, and the 252 days when shared debt was added, thus helped translate economic figures that are difficult to visualize into working days. This is how Aragón Digital reported it ten years ago, in the original story about the data from Airef's Debt Observatory.

About this article: Originally published in Spanish by AragonDigital.es and—following a selection process by our journalists—made available to the international audience of AragonDaily.com. Both newspapers belong to companies within the ARAGON DIGITAL GROUP.