Publications

Here are all of our publications listed chronologically. You can also find the publications relating to single geography under “Publications by geography” or narrow down your search using the “Advanced filter”.

Latest publications on Budget

China | Official budget deficit doesn't tell the whole story

March 18, 2026

China's official 4% deficit for 2025 signals an expansionary stance, but its complex fiscal structure requires deeper analysis. The revenue shortfall from land sales limits actual stimulus, exacerbating domestic demand weakness and ongoing deflationary pressures in the broader economy.

Mexico | It is wise to use FEIP resources, but better mechanisms are required

February 13, 2020

Last year, the federal government used 125 billion pesos from the Budget Revenue Stabilization Fund (FEIP) because of a lower than expected collection. This allowed the objective to reach a primary surplus of 1% of GDP to be met - in fact it was 1.1%.

Mexico | 2019 fiscal budget: the government approves its first big test

December 18, 2018

The fiscal package is sound in macroeconomic terms but introduces some microeconomic distortions. It is built on reasonable and market-aligned economic assumptions. Revenue and spending projections are conservative. As we expected, market reaction was slightly positive.

Mexico | 2018 Fiscal Program: proposal of fiscal consolidation effort of 0.5% of GDP

September 13, 2017

The program is based on realistic economic assumptions. The continuation of fiscal consolidation is positive. The budget will mean that debt as a percentage of GDP will continue to decline in 2018

Los presupuestos de 2017 en perspectiva

November 24, 2016

Una de las primeras tareas del nuevo gobierno es la elaboración y aprobación de los presupuestos para 2017, que sustituyan el Plan Presupuestario presentado el pasado mes de octubre y para dar respuesta al requerimiento de la Comisión Europea del 25 de octubre de tomar medidas efectivas para asegurar el objetivo de déficit del 3,1% del PIB a finales del próximo año.

Mexico | Economic package for 2017: enough and right for public debt to stabilize in 2017

September 9, 2016

Overall economic package presented to Congress is appropriate and ought to be enough for the public debt as a percentage of GDP to stabilize next year. Important that fiscal stance do not relax in Congress. In fact, we think a further cut (around 1.5% of GDP instead of 1.2% proposed) would be desirable

México | Ley de disciplina financiera de las Entidades Federativas y Municipios (LDFEFM)

May 2, 2016

La LDFEFM busca ordenar y alinear los instrumentos presupuestarios y financieros de las Entidades Federativas, Municipios y sus organismos para asegurar un manejo sostenible de las finanzas públicas locales. Establece principios generales de disciplina financiera, incluyendo la contratación y registro de deuda, para los gobiernos y organismos subnacionales

Mexico | Plan announced by Pemex, step in the right direction but with lots yet to be done

February 29, 2016

Today Pemex announced some details about the MXN$100 bn budget cuts for 2016. Almost two thirds of these cuts (MXN$64.9 bn) has been planned to reduce or postpone investment projects contingent on their profitability and available resources

U.S. | Congress Narrowly Averts another Shutdown

September 30, 2015

Lawmakers passed a continuing resolution keeping the government open until Dec. 11. The resignation of Speaker Boehner accelerated the passing of the funding bill. A shutdown is still in the cards for December as Planned Parenthood funding is debated.

U.S. | Weekly Focus: Jobs and the Fiscal Budget

September 29, 2015

September’s Jobs Report will Force the Fed to Keep December Liftoff in Play. Congress Needs Budget Deal by Thursday to Avoid Another Shutdown

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