Spain: Selected Issues

International Monetary Fund

No 2000/156, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

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 (search for similar items in EconPapers)
Pages: 68
Date: 2000-12-08
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