Despite growing discontent with the nationwide José María Aznar's government, the People's Party (PP) was able to comfortably retain its absolute majority in the Corts, losing only one seat compared to 1999, which was gained by the Agreement (Entesa) alliance led by United Left of the Valencian Country (EUPV).

The Socialist Party of the Valencian Country (PSPV–PSOE), while increasing its vote share in two percentage points compared to its 1999 result, failed to translate it into any new seats.

Valencian Union (UV), the former PP coalition partner during the first Zaplana government (1995–1999), continued its decline into irrelevance and fell below 3%, depriving it of any possibility of overcoming the five percent threshold to enter the Corts.

Francisco Camps became the new president of the Valencian Government succeeding José Luis Olivas, who had replaced Eduardo Zaplana in 2002 after the latter was named Labour and Social Affairs minister in Aznar's second cabinet.

[1] Voting for the Corts was on the basis of universal suffrage, which comprised all nationals over 18 years of age, registered in the Valencian Community and in full enjoyment of their political rights.

The 89 members of the Corts Valencianes were elected using the D'Hondt method and a closed list proportional representation, with a threshold of five percent of valid votes—which included blank ballots—being applied regionally.