deficit latest publications

November 28, 2019

Bringing Social Security into the 21st Century

The structure of the current Spanish pension scheme is essentially the same as when it was set up at the end of the 1960s. In the 50 years that have gone by since its creation, the only changes it has seen have been to its parameters.

August 23, 2019

Mexico | Low economic growth impacts the current account during the first half of the year

Having stood at USD 20.1 billion in 2017, the current account deficit increased to USD 22.0 billion in 2018.

August 15, 2019

Mexico needs a counter-cyclical fiscal policy; a fiscal council would help

Considering the current circumstances of almost zero economic growth, there is no need to aim for a primary surplus similar to the one planned for this year (1% of GDP) in 2020. If properly reported, a smaller primary surplus may be welcomed by the markets.

May 27, 2019

Mexico | Current account deficit in the first quarter confirms lower economic dynamism

Considerable decrease in the current account deficit in the first quarter of 2019 compared to the same period of the previous year, mainly due to lower deficits in primary income and service balances.

November 28, 2018

Mexico | Stable debt to GDP ratio in 2019 with a minimum primary surplus of 0.5% of GDP

The stabilization of public debt as a share of GDP is one of the goals that the incoming federal public administration has set out to reach. Keeping the historical balance of PSBR stable around 46.5% of GDP in 2019, ceteris paribus, will be possible if the federal government achieves a minimum primary surplus of 0.5% of GDP.

October 31, 2018

Bolsonaro's Brazil, putting the discourse into practice

The conservative Jair Bolsonaro has beaten the left-winger Fernando Haddad in the second round of the presidential elections held last Sunday 28 October. He will therefore be the Brazilian president during the period from 1 January 2019 to 31 December 2022.

October 29, 2018

Some keys to the Italian crisis

The fact that investors and the European Commission have turned the spotlight on the Italian economy as a result of Italy's presenting a budget with a public deficit target of a seemingly moderate 2.4% of GDP may seem paradoxical if certain differentiating factors that have accompanied this crisis are not properly understoo…

April 5, 2018

The Pension System in 2017and the Revaluation Index in2018

Last week, the budget balance of Spanish public administrations and the situation of the Social Security accounts at 2017 year-end were released. This very useful information can be used to update the change in various components of the theoretical Pension Revaluation Index (IRP from its Spanish initials) for 2018.