The request, described as “neither impossible nor crazy” by a regional executive spokesperson, aims to relax budgetary restrictions due to the “particularly harsh” impact of the global situation on the islands. It is argued that this measure could be activated through the European Union.
Additionally, the “unconditional” use of the Autonomous Community's Treasury surplus has been demanded to mobilize significant resources to address the global economic situation, especially the “exceptional” one in the archipelago.
“"It is not crazy for the Canary Islands, as an outermost region, to request such activation in an exceptional situation that is its right."
A spokesperson for the Canary Islands Government noted that the Canary Islands Federation of Islands had also previously requested this measure. It is estimated that if the Canary Islands are allowed to access the debt margin authorized by the EU, up to 1.6 billion euros could be mobilized. This figure would be supplemented by the Treasury surpluses of island councils and municipalities.
It has been warned that EU representatives have spoken of “catastrophic” consequences due to the conflict in the Middle East, and on the islands, the impact “is obvious,” with weekly increases in basic goods prices and gasoline, in addition to a slowdown in certain investments.
Concurrently, the Independent Authority for Fiscal Responsibility (AIReF) has indicated that the initial budgets for the Canary Islands for 2026 will also fail to comply with the spending rule, forecasting a computable expenditure growth of 5.3%, exceeding the 3.5% limit. This would necessitate a new Adjustment Plan for 2026 and 2027, in addition to the one already submitted for 2024, which entails a spending reduction of 445 million euros in 2026.
