Articles
Fiscal sustainability of Spain’s local governments: Targeted weaknesses within overall strength
Autores:
Aguerrea Alzualde, Ana
While Spain’s local governments have achieved balanced budgets on the whole, a number of municipalities present fiscal sustainability issues. Addressing these long-standing challenges will require extraordinary measures to improve structural solvency.
Spanish fiscal policy in an EU context: The transition back to normal
Autores:
Lago Peñas, Santiago
Although Spain recorded a fiscal deficit in 2022 that was worse than expected, lower extraordinary fiscal support measures, together with upside surprises in GDP and employment, make attainment of the 2023 deficit target look feasible. Going forward, any sound fiscal consolidation strategy for Spain should…
AI and the banking sector: Initial considerations
The rise in chats powered by artificial intelligence (AI) places this new development at the heart of the debate about the application of technology in the banking sector. In an environment in which competition will be increasingly digital, it is essential that the traditional banking…
Interest rate risk in the banking book and financial instability: Europe versus the US
Although the new interest rate scenario is clearly good news for the banks’ margins, the intensity, speed and persistence with which the increases have affected all tenors of the curve have other potentially very adverse effects for the banks more exposed to interest rate risk.…
Economic projections for Spain: 2023-2024
Despite a period marked by uncertainty, the Spanish economy has remained resilient, outperforming analysts’ expectations. Export performance has been particularly strong; nonetheless, downside risks remain, particularly those related to a sharper than anticipated monetary policy tightening, vulnerabilities in the shadow banking system at the EU…