Published by Global Banking & Finance Review®
Posted on March 26, 2026
2 min readLast updated: March 26, 2026
Add as preferred source on GoogleSpain’s PM Pedro Sánchez has appointed Arcadi España as the new finance minister and elevated Economy Minister Carlos Cuerpo to first deputy prime minister, amid delays in presenting the 2026 budget and ongoing regional funding negotiations.
MADRID, March 26 (Reuters) - Spanish Prime Minister Pedro Sanchez named Arcadi España as Spain's new budget minister on Thursday and promoted Economy Minister Carlos Cuerpo to deputy prime minister as part of a reshuffle of his cabinet.
Arcadi España replaces Maria Jesus Montero, who stepped down to lead the Socialist Party's campaign in upcoming regional elections in Andalusia.
España previously served as secretary of state for territorial policy and will take charge of Spain's budget policy at a time when the government is negotiating with regional governments over a new model for funding and has yet to submit a national budget for 2026.
Cuerpo, who will continue in his role as economy minister, will become the first man Sanchez has named as a deputy prime minister since taking power in 2018, when he formed the first government with gender parity in Spanish history.
(Reporting by Paolo Laudani and Emma Pinedo; editing by Charlie Devereux and Alex Richardson)
Arcadi España has been named as Spain's new budget minister by Prime Minister Pedro Sanchez.
Carlos Cuerpo, previously Economy Minister, has been promoted to deputy prime minister while retaining his economy portfolio.
Maria Jesus Montero stepped down to lead the Socialist Party's campaign in the upcoming Andalusia regional elections.
The reshuffle addresses leadership changes in key ministries and comes as Spain negotiates a new funding model with regional governments.
No, the Spanish government has not yet submitted the national budget for 2026.
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