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Spain: Selected Issues
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2000: Issue 156
Language:
English
Publication Date:
08 Dec 2000
DOI:
https://doi.org/10.5089/9781451812084.002
ISBN:
9781451812084
ISSN:
1934-7685
Pages:
68
Keywords:
ISCR; CR; government; Spain; country; deficit; expenditure policy; central government; personal income; public expenditure; reserve fund; labor market; capital expenditure; output gap; Personal income tax; Social security contributions; Pension spending; Europe
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The general government in Spain is composed of the State (central) government, the social security system, 17 regional governments, and a very large number of municipalities. Over the last several years, motivated in part by a desire to qualify for participation in Stage 3 of monetary union, the Spanish authorities have achieved impressive fiscal consolidation. Between 1995 and 1999, for example, the deficit of the general government has fallen by 5.5 percent of GDP, from about 6.5 percent to about 1 percent, and the authorities aim at achieving overall fiscal balance next year.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund