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public deficit

Montero

In Spain, Spanish economy, Spanish Politics 31st March 2023

“Only” 4.8% public deficit, says Montero

Fernando González Urbaneja | Listening every day, every hour, to the statements of the ministers takes us to a happy world: everything is going well; everything is historic; impressive achievements. But with the coda that the PP and Feijóo are the worst, capable of ruining everything. So much propagandist mumbo-jumbo that embraces the strategy of information flooding, pounding and pounding. The latest instalment corresponds to the public deficit data for…

pedro sanchez

Spanish economy, Spanish Politics 17th January 2023

Spain: tax collection rises by 15% but deficit will rise to 4.5% of GDP according to AIReF

The Independent Authority for Fiscal Responsibility (AIReF) estimates that last year closed with growth of 5.3%, which represents an upward revision of 9 tenths of a percentage point; and that in 2023 it will be 1.6%, in this case one tenth of a percentage point more than the previous estimate. The main reason for the revision in 2022 comes from the incorporation of updated national accounting data – which revised…

Spain, Nadia Calviño

Spanish economy 30th May 2022

Spain’s Public Spending Consolidates Above 50% Of GDP, With 14 Consecutive Years Of Deficits

Spain’s public spending breaks records and settles above 50% of Gross Domestic Product (GDP). The country has thus accumulated two consecutive years – 2020 and 2021 – in which the average disbursement reaches 51.5%, after surpassing all historical spending milestones. However, the revenue figures do not match the expenditure figures and the public deficit is widening. In 2021, with record tax pressure and state revenue, revenue has not managed to…

Lamanodedios

Spanish economy 18th May 2022

General Government Borrowing Hit Another Record High In March: 1.45 Trillion Euros (117.7% Of GDP)

Public indebtedness continues to break records. In March, debt registered a new all-time high of over 1.45 trillion euros after increasing by 12.381 billion euros compared to February, according to the statistical advance published yesterday by the Bank of Spain. It is true that the debt-to-GDP ratio stood at 117.7%, far from the 125% it exceeded in March last year. However, that was exclusively due to the economic rebound, which…

budget2021 amendments

Spanish economy 1st April 2022

Finance Ministry Optimistic… With The Highest Public Deficit In Europe (6.9%)

Fernando González Urbaneja | The Finance Minister, always cheerful and confident, has presented the budget execution for 2021 with her usual optimism. The deficit stands at 6.9%, three points less than the previous year, a point and a half less than the government’s forecast. The minister gives herself a good mark, a top A, and the media receive the data with not a little optimism, 28% less than the previous…

Spain public debt

Uncategorised 25th May 2016

Spain’s Public Deficit: Firemen Don’t Stand On Each Other’s Hoses

The European Commission did not want to meddle with Spain’s general elections on June 26th and has postponed until July its decision regarding a sanction for the country’s non-compliance with its deficit target. But none of the European community experts have ventured to confirm that this sanction will finally be imposed.

Knot

Spanish economy 11th April 2016

Spain Is Hampered By Its Deficit

Ofelia Marín-Lozano | Spain’s public deficit stood at 5.18% of GDP, missing the target set by Brussels (4.2%) by one percentage point. So the deficit should not be higher than nominal GDP growth, which can be estimated at around 3% in the long term.

deficit publico 1

Spanish economy 1st April 2016

The consequences of a public deficit which is out of control

Last year’s public deficit exceeded all the predictions of both the government and the experts: it ended up at 5.16%, one full percentage point (almost 10 billion euros) above the target set by Brussels. This huge deviation will have serious consequences and sanctions from Brussels cannot be ruled out.