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Published on Thursday, May 4, 2017 | Updated on Friday, September 15, 2017

Document number 17/11

Budgetary stability and structural reforms in Spain

We analyse the fiscal policy lessons from the recent recession in the Spanish economy and the options for the future. Our results indicate that budget balance and public debt trends showed clear signs of unsustainability between 2009 and 2011, with few alternatives available other than reducing the fiscal deficit.