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The macro impact of the Portuguese Constitutional  Court decisions regarding the budgetary proposals of the Portuguese Budget Law (2012, 2013, 2014)

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Resumo:We review the main budgetary measures not accepted by the Portuguese Constitutional Court in the Budget Laws of 2012, 2013 and 2014. Considering the feedback effect of the fiscal impulse, the impact on the budget balance is -0.42% and of -0.34% of GDP respectively for 2013 and for 2014; in both years the impact of the fiscal expansion could result in rather mitigated reductions in the unemployment rate in the range of 0.1 percent; the impact on the government debt level is around 0.42% of GDP in 2013, declining from then on, in a conservative estimate, and about 2.95% of GDP in 2020 in the worst case scenario.
Autores principais:Afonso, António
Outros Autores:Caiado, Jorge; St. Aubyn, Miguel
Assunto:Budget Balance Fiscal Consolidation Debt-to-GDP Ratio Portugal
Ano:2015
País:Portugal
Tipo de documento:working paper
Tipo de acesso:acesso aberto
Instituição associada:Universidade de Lisboa
Idioma:inglês
Origem:Repositório da Universidade de Lisboa

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