FY2027 for Spain covers January 2027 through December 2027. The first quarter (FM1–FM3) is the budget activation window; the second quarter (FM4–FM6) is the first reforecast cycle; the third quarter (FM7–FM9) is the target-defence quarter; and the fourth (FM10–FM12) is the close-and-handoff quarter when audit walkthroughs begin and the FY2028 budget is finalised in parallel with the FY2027 close.
For a country-specific deadline calendar see the main Spain page. For practical year-end guidance applicable to any country, see the close-the-books guide.