Canary Islands' Ministry of Finance Extends Cooperation Agreement with College of Economists of Las Palmas

Agreement Details

• The Canary Islands' Ministry of Finance has officially extended its cooperation agreement with the College of Economists of Las Palmas until December 31, 2026.
• This agreement, initially signed to promote understanding of the region's unique economic and fiscal framework, focuses on training and dissemination activities.
• The extension ensures continued efforts to educate both local residents and policymakers about the benefits and specifics of the Canary Islands' Special Economic and Fiscal Regime, which is vital for regional development and attracting investment.

Funding and Responsibilities

• Funding for this extension comes from the regional government, which will contribute nearly €3,900 in 2026 for speaker fees and related travel costs, especially for activities outside the capital islands.
• Meanwhile, the College will cover organization and administrative expenses.

Review and Reporting

• Key meetings are scheduled biannually to review progress.
• Detailed reports will be submitted after each period.

Overall Implications

This move underscores the government's commitment to fostering economic awareness and bolstering the region’s fiscal policies, which are tailored to support local development and attract economic activity.

For expats and residents, ongoing education about these fiscal advantages could lead to better economic decisions and more informed participation in regional growth.