Fiscal Panorama of Latin America and the Caribbean 2017: Mobilizing resources to finance sustainable development
Fiscal developments differed significantly by subregion during 2016. The average fiscal deficit of Latin America and the Caribbean held steady at about 3.0% of GDP, but in the north of the region (the Central American isthmus, the Dominican Republic, Haiti and Mexico) the deficit declined to 2.2% of GDP in 2016 from 2.4% in 2015. In South America, conversely, the fiscal deficit widened from 3.6% of GDP in 2015 to 4.0% of GDP in 2016. A number of Caribbean countries experienced improvements that led to a (still modest) reduction in the heavy burden of public debt in the subregion.
(Generated with the help of GPT-4)
| Quick Facts | |
|---|---|
| Report location: | source |
| Language: | English |
| Publisher: | |
| Authors: | Antonio Prado, Daniel Titelman, Ricardo Pérez, Alicia Bárcena |
| Geographic focus: | Latin America And The Caribbean |
| Page count: | 108 páginas. |
Methods
Fiscal pressures remained constant in Latin America and the Caribbean in 2016, with an average deficit of 3.0% of GDP. The deficit decreased in the northern subregion to 2.2% of GDP, while it increased in South America to 4.0% of GDP. The Caribbean saw modest debt reduction. The report emphasizes the need for progressive tax systems, combating tax evasion, and leveraging environmental taxes for sustainable development.
(Generated with the help of GPT-4)
Key Insights
The Fiscal Panorama of Latin America and the Caribbean 2017 analyses the scope for mobilizing resources to fund sustainable development within the framework of the 2030 Agenda for Sustainable Development. It argues for the importance of moving towards progressive tax systems in which direct taxes play an important role, and of continuing the struggle against tax evasion, which significantly undermines revenues. Lastly, it reviews progress with environmental taxation, identifying lessons that may be of use in future tax reforms, and examines territorial disparities and their implications for the design and configuration of fiscal policy in the region's countries.
(Generated with the help of GPT-4)
Additional Viewpoints
Categories: 2030 agenda | English publication language | Latin America And The Caribbean geographic scope | environmental taxation | fiscal deficit | progressive taxation | public debt | resource mobilization | sustainable development | tax evasion | tax systems | territorial disparities