Publications

Building on the analysis initiated in a previous study, the Working Paper describes and assesses the new elements of the Government’s proposal to reform the SFA contained in the draft agreement sent to the Autonomous Communities several weeks ago.

This Working Paper analyzes the 2024 settlement of the financing system for Spain's common-regime autonomous communities. It calculates the definitive financing for homogeneous competences, which grew by 9.45% compared to 2023. It also quantifies interregional redistribution flows and the evolution of resources until 2027.

The U.S. House of Representatives proposed a 5% tax on remittances sent by undocumented migrants to any global destination. This tax would be unfair, regressive, and contrary to international agreements, but would have limited effects and would not significantly affect the balance of payments.

With the beginning of the year, many of us are making our budgets, and understanding how prices changed in 2024 and how they will change in the future is an important starting point in this task.

The fiscal package is sound in macroeconomic terms but introduces some microeconomic distortions. It is built on reasonable and market-aligned economic assumptions. Revenue and spending projections are conservative. As we expected, market reaction was slightly positive.

The program is based on realistic economic assumptions. The continuation of fiscal consolidation is positive. The budget will mean that debt as a percentage of GDP will continue to decline in 2018

Overall economic package presented to Congress is appropriate and ought to be enough for the public debt as a percentage of GDP to stabilize next year. Important that fiscal stance do not relax in Congress. In fact, we think a further cut (around 1.5% of GDP instead of 1.2% proposed) would be desirable