The Government expects the FROB to lose 17 million this year and 38 million in 2023

In debt expected at the end of 2023 amounts to 6,870 million

MADRID, 6 Oct. (EUROPA PRESS) -

The Government expects the Fund for Orderly Bank Restructuring (FROB) to record losses of 17.46 million euros in 2022 and 37.8 million in 2023, as stated in the draft General State Budget (PGE) for 2023, presented this Thursday.

In 2021, the FROB cut its losses to 1,352 million euros, compared to the 'red numbers' of 3,639 million euros in 2020, a result that is explained by the accounting adjustment recorded in the valuation of FROB's stake in BFA and which has no impact on the deficit or public debt.

The Executive expects the FROB's turnover to rise to 28.3 million in 2022 and 29.73 million in 2023, with an operating profit of 43.3 million this year and 15.3 million next year.

The expected financial expenses are 61 million in 2022 and 53.2 million in 2023, so the financial result for both years is negative and stands at 60.8 million and 53.1 million euros, respectively.

The Government estimate contemplates that, after taxes, the FROB will record net losses of 17.4 million euros in 2022 and 37.8 million euros in 2023.

According to the new Budget project, the indebtedness of the body chaired by Paula Conthe expected at the end of 2023 will be 6,870 million euros.