Regulatory Alerts2013-12-21
Organic Law 9/2013 of 20 December on the Control of Commercial Debt in the Public Sector
The Spanish State issued Organic Law 9/2013 to amend the Budget Stability Law, explicitly incorporating commercial debt into the definition of public debt to ensure financial sustainability. The legislation mandates public administrations to publish their average payment periods to suppliers and establishes automatic preventive and corrective measures, including debt issuance restrictions and resource retention, for entities exceeding payment deadlines. These provisions aim to eliminate public sector delinquency, protect private suppliers, and guarantee compliance with European Union fiscal stability requirements.
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