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November 5, 2024

Mexico | Pemex contributes to a public spending above budget

The Historical Balance of Public Sector Borrowing Requirements (HBPSBR) was 49.3% of GDP at the end of the third quarter. We anticipate that this balance will be 50.8% by year-end.

October 21, 2024

Spain | The public sector after the COVID crisis

Spain faces a fiscal adjustment of around 2.5 percentage points of GDP over the next few years. Its debt and public deficit levels make it vulnerable and must be improved through a more efficient set of public policies.

August 2, 2024

Mexico | Non-tax revenue, IMSS, ISSSTE and CFE support public income in the first semester

The Historical Balance of Public Sector Borrowing Requirements (HBPSBR) was 47.2% of GDP at the end of the first semester. We anticipate that this balance will be 50.8% by year-end.

July 8, 2024

Spain | Deficits so similar and so different

By the end of 2024, the public deficit is expected to finish at levels similar to those of 2019. However, this apparent similarity hides profound differences in the composition of revenues and expenses.

May 6, 2024

Mexico | Public spending driven by subsidies, transfers and contributions in 1Q24

Tax revenue was MXN 8,922 million (0.03% of GDP) below budget since the excise taxes on fuels intake was below budget despite its real annual increment of 195.1% in 1Q24.

March 4, 2024

Spain | Public sector size and growth

The size of Spain's public sector and its impact on economic growth is a controversial issue, with opposing views and biases that can affect the interpretation of the evidence.

February 6, 2024

Mexico | Debt servicing costs increase public spending

Public revenue in 2023 was MXN 84,326 million (0.27% of GDP) below budget due to lower oil-related income as international prices of a crude oil barrel went down.

November 8, 2023

Mexico | Pemex’s expenditures contribute to public balance improvement

Public revenue in the first semester was MXN 157,650 million (0.5% of GDP) below budget due to lower oil-related income as international prices of a crude oil barrel went down.

August 2, 2023

Mexico | Lower discretionary spending supports fiscal discipline

Public revenue in the first semester was MXN 189,558 million (0.6% of GDP) below budget due to lower oil-related income as international prices of a crude oil barrel went down.

May 19, 2023

Mexico | Lower oil-related income affects public revenue in the first quarter

Public revenue in the first quarter was MXN 117,486 million (0.4% of GDP) below budget due to lower oil-related income as international prices of a crude oil barrel went down.