The Tax Blog of Crónica Tributaria publishes a weekly entry on different aspects of taxation. On Wednesday 23rd, an entry written by Mr. Rubén Víctor Fernández de Santiago, Director of the Tax Studies and Statistics Service of the Tax Agency, was published with the title How accurate are economic forecasts?

In the entry, the author reflects on the difficulty of making predictions of the economic future and, at the same time, tries to relativize the reading and implications that arise from the economic forecasts that are periodically prepared by organizations and institutions.

To do this, it focuses on the predictions of the growth of real GDP and the percentage of public deficit over nominal GDP made by those organizations that traditionally have more media impact ( AIReF , Bank of Spain, European Commission, IMF , Government and OECD ), and considering the years 2021 and 2022.

Read the entry How accurate are economic forecasts? full.