Canary Islands Unveil €12.5 Billion Budget

The Council of Government of the Canary Islands approved on Wednesday the draft budget law for 2026, amounting to €12.491 billion—a 7 % increase that adds €813.2 million to the previous plan.

The details were presented at a press conference by Finance Minister Matilde Asián (PP), who acknowledged the “uncertainty” caused by the lack of a PGE (General State Budget) and the need to meet fiscal‑stability targets. Nonetheless, she emphasized that the new budget is oriented toward social spending, with housing positioned as a strategic objective and a strong focus on the green transition.

“Even with the current uncertainty, our priority remains social investment, especially in housing and the transition to a greener economy,” Asián said.

Key Increases

• Department of Mariano Hernández Zapata: The fastest‑growing line item, rising 44.8 % to €453.6 million.
• Presidency: Funding climbs 18.6 % to €159.8 million.
  Asián explained that the Presidency now encompasses a “broader concept,” including new economic strategies and programs linked to the demographic challenge facing the islands.

These allocations signal a strategic shift toward strengthening social infrastructure and advancing sustainability initiatives across the Canary Islands.