Publications

The increased penetration of renewable energies in Spain, especially solar and wind, has reduced wholesale electricity prices by 20% in the last three years and could cut them by a further 20% by 2030 if the ambitious PNIEC targets are met.

There are currently seven autonomous regions of Spain without a budget (rolled over), in territories where the population represents 43% of the total in Spain. In addition, the central government is still working with the 2023 budget.

A few months ago, the OECD warned that the recent pension reform was unlikely to prove sufficient to fully balance the system. Rather, it said it would increase expenditure more than income, thereby requiring the government to take further steps.

Wage and disposable income inequality in Spain illustrates the importance of avoiding its causes by bringing Spain's unemployment rate down and converging it to EU levels, thereby enjoying the double dividend of full employment.

We have recently learned of a couple of new developments about the Spanish public pension system. The first is the revaluation of pensions for 2024, which will be close to 4%. The second is the long-term projections of public pension expenditure.

The Mexican economy has shown better performance than expected, partly explained by the labor market's strength. According to the National Survey of Household Income and Expenditure (ENIGH), job creation and wage improvements have been more relevant for household income than government transfers.

Over the last few months, an attempt has been made to build a simple but straightforward narrative, according to which the banking sector must make an additional fiscal effort due to the increase in its hypothetical extraordinary profits, with which to contribute to the necessary income agreement.

In 2022, the support measures put in place by the government in a bid to combat rising energy prices are expected to reach 16 billion euros, or around 1.3% of GDP. Despite this, the imbalance in the public accounts is following a similar path to its trend in 2019, when it ended the year at 3% of GDP.