The fiscal pact:

Strengths, weaknesses, challenges. Synthesis

Abstract

THE PURPOSE OF THIS PUBLICATION IS TO DISSEMINATE MORE WIDELY THE FIRST CHAPTER OF THE FISCAL COVENANT. STRENGTHS, WEAKNESSES, CHALLENGES. THIS CHAPTER SUMMARIZES THE MAIN POINTS OF THE DOCUMENT AND PROVIDES A GENERAL IDEA OF ITS CONTENT AND PROPOSALS. THE FISCAL COVENANT, UNDERSTOOD AS THE BASIC SOCIO-POLITICAL AGREEMENT THAT LEGITIMIZES THE ROLE OF THE STATE AND THE SCOPE AND EXTENT OF GOVERNMENTAL RESPONSIBILITIES IN THE ECONOMIC AND SOCIAL SPHERE, IS ANALYZED THROUGH ITS FIVE FUNDAMENTAL ASPECTS: CONSOLIDATING THE ONGOING FISCAL ADJUSTMENT, INCREASING THE PRODUCTIVITY OF PUBLIC MANAGEMENT, MAKING FISCAL ACTION MORE TRANSPARENT, PROMOTING EQUITY AND FAVORING THE DEVELOPMENT OF DEMOCRATIC INSTITUTIONS.