Macroeconomic policies

According to projections, Latin America’s fiscal balance deteriorated slightly, on average, in 2014. The subregion’s primary deficit (before public debt interest payments) is expected to stand at 0.8% of GDP, and the overall central government deficit will widen from 2.4% of GDP in 2013 to 2.7% in 2014 (see figure VI.1), with a drop in total revenues and a slight upturn in public spending. The subregion as a whole has posted a fiscal deficit since 2009, but this has not pushed up public debt, which has held steady at about 32% of GDP, with an external component of less than 15 percentage points of GDP.

Related Subject(s): Développement économique et social