La eficacia de la política fiscal y presupuestaria en la consolidación del crecimiento económico

Abstract

Becoming a member of the European monetary Union implies the impossibility of using the monetary policy as an economic instrument, given that sovereignty has been surrendered to the ECB. This circumstance leads that fiscal and budgetary policies have gained paramount importance during the crisis. In this context, budgetary stability and fiscal consolidation have worked as an anchor to avoid being dragged into the depths. The economic measures implemented by the Government and the minister montoro have created the adequate conditions to initiate the path of economic growth. However the advantages of these principles must be accompanied by other reform initiatives in fiscal, budgetary and economic policies in general, that allow an effective exit of the crisis. The economic model on which our growth settles must be sustainable, consolidating the momentum and creating stable employment. In conclusion, Spain is back and this time to stay.