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Cristobel Montoro limits Ministry budgets to 50%

The PSOE and Podem yesterday demanded the appearance of Finance Minister Cristobal Montoro in parliament to explain the consequences of the 2017 budget extension and subsequent spending cap on all ministries which amounts to a 50% cut in public spending. Departments are from now on unable to approve new projects and expenditure once the 50% cap on the existing budget for each ministry has been reached unless permission has been granted by Montoro’s department.

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