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Published on Monday, November 19, 2018 | Updated on Monday, November 19, 2018

Spain | Uncertainty over 2019 fiscal policy

The cyclical recovery of revenues favours the adjustment of the public deficit, despite the expansive and procyclical tone of fiscal policy in 2018. In a scenario without any changes in fiscal policy, the 2019 deficit would be reduced to 2.2% of GDP. The measures presented in the Budget Plan give rise to further doubts about the achievement of the stability objective.