By Tasos Dasopoulos Exceeded by 164 million euros recorded tax revenues in the 10 months of January – October with a horizontal increase in indirect and direct taxes. Based on the final data on the implementation of the budget, the amount of net revenues of the state budget amounted to 44,156 million euros, showing an […]
Tag: deficit
Société Générale: ‘Long Covid’ threatens economy – Risk of tough austerity packages
Of Eleftheria Kourtali Economic scars are expected to narrow in the eurozone, both in terms of GDP and employment. However, The impact of the COVID-19 crisis on public finances will prove to be long-term and significant (long Covid), with the region’s public debt moving 15% higher and deficits unlikely to return to pre-pandemic levels in […]
GPA: Smaller deficit reduction, risk of continuing pandemic
By Tasos Dasopoulos The Parliamentary Budget Office points out in its opinion the smallest fiscal adjustment by 1.32 billion euros in relation to the draft recorded in the final draft budget for 2022 and the risks arising from the continuation of the pandemic. As it is pointed out, the implementation of the projected fiscal figures […]
How inflation increases twin deficits
By Tasos Dasopoulos The looming prolongation of the energy crisis with the increases in electricity, gas and oil prices, combined with the new outbreak of the pandemic, comes to strengthen the “twin” deficits, the fiscal and the current account balance, which reappeared at the end of 2020. due to the pandemic. The trade deficit that […]
The Bank of Spain criticizes “the general increase” in salaries for civil servants while jobs are destroyed
The Governor of the Bank of Spain, Pablo Hernandez de Cos, has openly questioned the draft Government Budgets for 2021 for its lack of realism and for including measures that it considers erroneous, such as the generalized increase in salary for public employees in the midst of the crisis. The governor, who is himself a […]
PGE-2021: More expansive than expected
This is no time for fiscal austerity. We need governments that encourage demand and actively participate in promoting new projects and activities; that take advantage of the conjuncture to accelerate urgent and necessary transitions in the energy and environmental sphere, in digitization and circularity. This message is, in essence, shared by the European Commission and […]
The worrying worsening of France’s trade deficit
In August, the trade balance in goods was in deficit of 7.7 billion euros and 67 billion over the last twelve months. Exports only represent 83% of their 2019 average level. The risk of further deindustrialisation is real. This is starting to do a lot. In August, France’s trade balance in goods showed a deficit of 7.7 […]
