"Fiscal accounts for 2015 anticipate an additional burden of concerns about the sustainability of the public finances of the governments of the region."
Wednesday, April 1, 2015
From a report entitled "Macrofiscal Profiles: 3rd Edition" by the Central American Institute for Fiscal Studies (Icefi):
The close of fiscal year 2014 has left more uncertainties than certainties in the current panorama for Central America. Fiscal accounts for 2015 anticipate an additional burden of concerns about the sustainability of the public finances of the governments in the region: low tax revenue growth; public expenditure which is anchored to the possibilities of indebtedness; public debt continues which to accrue.
These are the elements which should be forcing Central American society to discuss an urgent reform agenda for sustainability and adequacy of fiscal policy.
In one of the regions that receives the least amount of taxes in the world, the tax burden remained relatively stable in 2017.
From the section Fiscal Outlook for Central America, from the report "Macro-fiscal Profiles: 9th edition", by the Central American Institute of Fiscal Studies (Icefi):
In the opinion of the Central American Institute of Fiscal Studies, the only way to consolidate public finances in a sustainable way is to reduce tax breaks and increase tax collections.
From a statement issued by the Central Institute for Fiscal Studies (Icefi):
The Central American Institute for Fiscal Studies (Icefi) has proposed as a fiscal agenda for development: meeting the public demand for integrity and transparency; effective, efficient and effectual public spending as a tool for inclusive and democratic development; and financial viability with taxation being part of democratic accountability.
Academics and politicians are proposing an intersectoral agreement from which comprehensive tax reforms can arise in order to make public finances sustainable.
According to an article in Elmundo.com.sv, "The forum called 'Are Public Finances sustainable?', brings together economists and two deputies from the Special Committee on Finance and Budget of the Legislative Assembly to discuss and present their proposals for solutions to the current fiscal situation.
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