Spain: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2003 Issue 041

Publication date: February 2003

ISBN: 9781451812091

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Economics- Macroeconomics , Public Finance , ISCR , CR , absolute value , expenditure elasticity , product market , fiscal policy effect , government expenditure , consumption behavior , expenditure stabilizer , OECD estimate , expenditure decision , gross domestic product , employment protection index , C , fiscal policy , output volatility , Automatic stabilizers , Output gap , Tax expenditures

Also of interest

Peru

Grenada

Nepal

Republic of Congo : 2001 Article IV

Summary

This Selected Issues paper analyzes the conduct of fiscal policy in Spain, made topical by the entry into effect of the Budgetary Stability Law in 2003. This law, along with the new permanent financing arrangements with the subnational levels of government, provides a new institutional and legal framework for fiscal policy. These innovations aim to lock in the gains in fiscal consolidation represented by the achievement of the goals of the Stability and Growth Pact in 2001.