April 26, 2021
In February, the Bank of Spain published its statistics on the Spanish public debt, indicating that state liabilities reached 117.08% of GDP at the end of 2020.
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March 1, 2014
Published by IEA on March 1, 2014
Categories
Western governments have developed unfunded social insurance programmes where retiree benefits are paid for from the taxes of the working-age population. This means that an ageing population leads to
rising expenditures that cannot be covered without increasing taxes on the young.
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