The deficit and public debt are two major issues outstanding for the fiscal stability of Spain. The debt stands at almost 98% of GDP and starts to decline, but at the speed of turtle. The ingredient that grow-out debt is the deficit and this continues at high levels a decade after the outbreak of the financial crisis. In fact, Spain is the EU country with the budgetary lag higher. Despite this startling picture in the public accounts, the Government achieved progress. Is a step to exit the excessive deficit procedure (EDP), the protocol corrective Brussels for countries with red numbers above the 3% of GDP. Spain will close in 2018 with a deficit of close to 2.7% of GDP, with a correction of four tenths over the figure for the previous year, according to advance figures of budget execution of the Public Administrations.
MORE INFORMATION
The IMF called on Spain fiscal measures credible, a pension reform Brussels warns that the Spanish Budget puts at risk the fiscal stability, The budget plan reviews to the low GDP and casts doubt on the income The IMF believes that Spain will not succeed in lowering the deficit to 2% even in 2023 Spain will leave to 2020 the greater part of the setting that asks for Brussels Bahis Siteleri
that is Exactly the rate that the Government has marked in red to argue that the European Commission has also continued fiscal consolidation. Although he recognizes that will not be able to contain the deficit to 2.2%, the goal set by the community authorities, has pledged to close at 2.7%.
Improve the central State
The change of Government has not brought big changes is the fiscal policy of this year. In fact, the Executive of Sanchez is working with the Budgets of Montoro. And until September, the figures go as planned: “the general government deficit excluding local corporations, has been reduced by 22.1% compared to 2017. In these three quarters, the results obtained by each one of the subsectors have been better in comparison with 2017,” according to the report of the General Intervention of the State (IGAE).
teasing out the data shows that the improvement occurs despite an increase in expenditure 4.2%. Until now, the adjustment made by the PP Government is produced because it contained costs and only went up if these grew the least of which grew the economy. But the dazzling pace to grow tax revenues is an extra dose of vitamins to this tortuous process. The tax revenue moving forward at a pace of 8.4% of GDP and face the highest-grossing of the story.
