Revenues latest publications

September 5, 2022

Spain | 2020 Settlement of the financing system of the Autonomous Communities

This Working Paper analyzes the settlement of the financing system of the autonomous communities under the common regime for 2020, which has recently been made public by the Ministry of Finance.

August 1, 2022

Mexico | Remittances recorded second consecutive month with more than 5 billion dollars

In the first half, remittances to Chiapas grew more than 70% and surpasses Puebla and Veracruz. In Michoacán, remittances (4,056 million dollars) represented 105.4% of the total amount of state income (3,849 million dollars) in 2020.

December 10, 2021

Spain | A decade of pension reforms and counter-reforms

Unlike the 2011 and 2013 reforms, the 2021 measures increase the projected deficit of the pension system and pass it on to the State, increase contributions, making job creation more expensive, and reduce intergenerational equity, in exchange for a greater budgetary burden on the younger generations.

August 10, 2021

Spain | The 2019 settlement under the common system of autonomous communities financing

This Working Paper analyzes the settlement payment for 2019 under the common system of autonomous communities financing, recently published by the Ministry of Finance.

August 9, 2021

Europe | European banking: increasing the stress on an already stressed scenario

On July 30, the European Banking Authority (EBA) published the results of the stress tests it regularly carries out on the major European Union banks. The top 50 banks (covering 70% of total EU banking assets) were analyzed for a baseline and an adverse scenario over a three-year horizon.

April 12, 2021

Mexico | More tax revenue is possible with VAT and personal income taxes

Boosting tax revenue with VAT requires the elimination of the zero-rate for many products with the exception of some food items and would be justified by tax regressivity

February 1, 2021

Spain | Public deficit, permanent or temporary?

The deficit the crisis has left in public accounts probably reached 11.5% of the GDP in 2020. Moreover, in the short term, the imbalance in public accounts may have to go back to historically high levels again in 2021 in order to sustain activity.

May 28, 2020

Mexico | Risk of a sharp drop in public revenue in 2020

Lower tax revenue would lead to a higher primary deficit (ceteris paribus). To meet the primary deficit target of 0.4% of GDP for 2020 under the aforementioned contraction range, the federal government would need to cut down public expenditure by MXN 209 billion and MXN 418 billion in 2020, respectively.