Economy
The objective of this research unit is to disseminate the analysis and knowledge of the investigations carried out in different movements of the economy, which encompasses different thematic areas: Public economy; Markets, regulation and competition; OFEI; Sector studies; Energy and environment; Health economics and policies; Macroeconomics and International Trade and Economy.
Highlighted
A falta de reformas significativas, el gasto público en pensiones está abocado a llegar al 8% del PIB en las próximas dos décadas, según datos de AIReF. Pero el envejecimiento, señala Desiderio Romero, de Funcas, conllevará también, presumiblemente, un impacto para los ingresos públicos. Pese a que la entrada de inmigrantes ha suavizado la caída de la ratio entre pensionistas y trabajadores, cabe predecir que el paulatino incremento relativo de los primeros supondrá una merma en la recaudación impositiva, ya que tanto las bases sometidas a tributación en IRPF de las pensiones como los tipos impositivos que se les aplican son menores que en el caso de los salarios.
Artículo
The Spanish economy’s growth cycle: Constraints and outlook through 2027
Fecha:
November 2025
Spain’s economy continues to outperform the eurozone average, driven by robust domestic demand and immigration-fueled job creation. Yet, structural weaknesses in housing, fiscal policy, and private investment pose growing constraints as external
demand fades.
Artículo
The macroeconomic drivers of fiscal sustainability
Fecha:
November 2025
Spain’s debt ratio has fallen more than four percentage points since 2019, outperforming most euro area economies thanks to strong growth and favorable financing conditions. Yet demographic headwinds and persistent productivity gaps are emerging as key risks to maintaining long-term fiscal sustainability.
Artículo
Fiscal progress despite budget stalemate: Spain’s deficit contracts amid political gridlock
Fecha:
November 2025
Despite operating without a new budget for two consecutive years, Spain has made notable progress in fiscal consolidation. Strong tax revenue growth and a buoyant labour
market have offset the political impasse, allowing the deficit and debt ratios to continue falling.