The Spanish King Felipe VI decided to cut his salary by 20 percent as part of a set of promises to Spanish people that he would improve the image of the royal family.

The Royal Palace said in a statement that 47 year old Felipe's new income would be estimated at 234,204 Euros per year, as Egypt's state news agency MENA reported.

His spouse Queen Letizia would receive 128,808 Euros per year.

The royal family's incomes were first published in 2010 amid the economic recession in the European country.

The budget of the palace has been cut or frozen each year from 2010 as a result of several royal family related scandals.

Juan Carlos, father of King Felipe VI, provoked public outrage by going on an extravagant safari to hunt elephants in 2012.

Felipe decided to sell two of his Ferrari cars in a public auction which were a gift from UAE's Prime Minister Mohamed Bin Rashed Al-Maktoum to his father Juan Carlo.

Felipe VI has also decided that starting from next year the budget of the royal family will be publicly announced to the Spanish people.

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