The new political term in Spain is marked by the clash between the PSOE and the PP.
Immigration and governability present themselves as central themes for this period.
Political stability may be jeopardized by leadership changes in ERC and Junts.
The PP will likely focus on the issue of Catalan fiscal sovereignty to wear down the government.
The attempt to approve the 2025 budget could clearly evidence the government's weakness.
The Spanish economy enjoys a positive cycle, but the rejection of the budget would be a setback of relative seriousness.
Conclusion: Given the current political polarization, it seems improbable that an agreement between the two major parties will be reached to ensure greater stability and development. Everything points to a political term of constant confrontation and governmental wear.