Regional Government Deficit during the Crisis: Falling revenues and delayed fiscal consolidation
Fecha: marzo 2012
FUNCAS
Etiquetas: Consolidación fiscal, Déficit público, Comunidades autónomas, Objetivo de déficit
Spanish and International Economic & Financial Otlook, SEFO, V. 1 N.º 0
Regional government fiscal slippage primarily explains Spain’s deviation from its 2011 deficit target. Delays in the regional governments’ fiscal consolidation process, together with the negative impact of the crisis on their revenues, have resulted in most of the autonomous communities missing their deficit targets for 2011. However, fiscal performance differs across the regions, suggesting underlying economic conditions and policies also vary substantially.