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The expenditure growth stabilization and the strength shown by taxes, lead to lower the deficit forecast for 2020 to 11.5% of GDP. The Recovery funds represent an opportunity to favor fiscal adjustment and resume the downward path of public debt.

The 2020 deficit is revised to 13% due to the strength of tax collection. The fiscal policy of the coming years will be conditioned by the implementation of the Recovery Plan

The public deficit deterioration will be greater than expected three months ago. In an unprecedented crisis, the sustainability of public debt could be compromised.

The outbreak of the COVID-19 pandemic and the containment measures will have an extraordinary impact on public accounts. The deficit and the public debt will be at their highest levels in the last decade.

Budget execution data up to Nov-19 anticipate a further structural deterioration of the structural balance during 2019. For 2020-2021, and pending the completion of the new government's budget programme, the recently approved measures maintain …

Budget execution data up to July 2019 slightly worsens the dynamics of 2018. For the 2019-2020 period, an exclusively cyclical adjustment is expected, which will determine a slightly expansive tone of fiscal policy

Budget implementation in April 2019 slightly worsens the dynamics of 2018. During the 2019-2020 period, and in no policy change scenario, the pace of adjustment of the public deficit would be moderating compared to that observed in previous years

The first budget execution data for 2019 slightly worsens last year's dynamics. In an environment of extended budget and policy uncertainty, the economic cycle will reduce the deficit, although the current fiscal targets will be missed.

Eurostat has just confirmed that Spain closed 2018 with a public deficit of 2.5% of GDP, six percentage points less than in 2017. The reduction of the deficit at a time of growth like the present one is good news, particularly because Spain nee…

All the signs are that in the next few days Congress will give its definitive approval to the General State Budget for 2017 following intense debate. The pace and make-up of fiscal consolidation and the fiscal policy options have again been sub…