{"id":23769,"date":"2020-04-15T11:37:27","date_gmt":"2020-04-15T09:37:27","guid":{"rendered":"http:\/\/www.monempresarial.com\/2020\/04\/15\/el-concepte-economico-indicadores-de-endeudamiento-el-sector-publico\/"},"modified":"2025-06-06T10:11:42","modified_gmt":"2025-06-06T08:11:42","slug":"el-concepte-economico-indicadores-de-endeudamiento-el-sector-publico","status":"publish","type":"post","link":"https:\/\/www.monempresarial.com\/ca\/2020\/04\/15\/el-concepte-economico-indicadores-de-endeudamiento-el-sector-publico\/","title":{"rendered":"El concepte econ\u00f2mic:<\/span> Indicadors d\u2019endeutament, el Sector P\u00fablic"},"content":{"rendered":"<h4><strong>ERNESTO IGNACIO G\u00d3MEZ TARAGONA. Deg\u00e0-president del Col\u00b7legi d&#8217;Economistes de la Rioja.<br \/>\n<\/strong><\/h4>\n<hr \/>\n<p>La f\u00f3rmula m\u00e9s senzilla de mesurar l\u2019endeutament p\u00fablic \u00e9s prendre la dada de deute total en euros de les administracions p\u00fabliques. Tanmateix, l\u2019import total del deute no aporta molta informaci\u00f3 a efectes comparatius. Esper aix\u00f2 que el principal indicador consisteix en calcular el percentatge de deute sobre el PIB. Aix\u00ed, al juny de 2016 el sector p\u00fablic espanyol va tancar l\u2019any amb una r\u00e0tio del 100,5% de deute sobre el PIB (1.106,69 milers de milions d\u2019euros), uns 65 punts per sobre del m\u00ednim assolit al mar\u00e7 de 2008.<\/p>\n<p>No obstant, durant els darrers anys l\u2019Autoritat de responsabilitat fiscal (AIReF) ha introdu\u00eft un nou indicador per fer m\u00e9s tangibles les actuals xifres de deute de les Comunitats Aut\u00f2nomes. Aquest valor consisteix en calcular els dies de feina necessaris per cada habitat de la comunitat per tal de fer front al pagament del deute, diferenciant per una banda el deute de la pr\u00f2pia comunitat; i per l\u2019altra, la part del deute atribu\u00efble del total del deute com\u00fa de l\u2019Estat, en base a la poblaci\u00f3 relativa de cada territori. D\u2019aquesta manera, s\u2019obt\u00e9 un element de comparaci\u00f3 amb la capacitat de pagar el deute per part dels ciutadans d\u2019aquest territori.<\/p>\n<p>Pel que fa a les caracter\u00edstiques del deute p\u00fablic, \u00e9s important destacar tres: en primer lloc, el r\u00e0ting \u00e9s la qualificaci\u00f3 de la qualitat del deute en funci\u00f3 de les expectatives generades per a la seva devoluci\u00f3. Les principals ag\u00e8ncies de qualificaci\u00f3 son Moody\u2019s, Fitch i Standar and Poors. En segon lloc, el propi cost financer: tipus impl\u00edcit d\u2019inter\u00e8s, aix\u00ed com el seu percentatge sobre el PIB. Finalment, \u00e9s important con\u00e8ixer, en el cas de les Comunitats Aut\u00f2nomes, el percentatge de deute que es correspon a finan\u00e7ament del fons de liquiditat auton\u00f2mica (FLA) i la resta de mecanismes extraordinaris (FFF, etc.). Aquesta \u00faltima dada \u00e9s rellevant perqu\u00e8 es tracta de pr\u00e9stecs del Govern a les Comunitats Aut\u00f2nomes i les condicions de devoluci\u00f3 podrien variar en funci\u00f3 del futur final del seu finan\u00e7ament.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-23764 aligncenter\" src=\"https:\/\/www.monempresarial.com\/wp-content\/uploads\/2020\/04\/concepto-economico-cat-1.jpg\" alt=\"\" width=\"492\" height=\"358\" srcset=\"https:\/\/www.monempresarial.com\/wp-content\/uploads\/2020\/04\/concepto-economico-cat-1.jpg 679w, https:\/\/www.monempresarial.com\/wp-content\/uploads\/2020\/04\/concepto-economico-cat-1-300x219.jpg 300w, https:\/\/www.monempresarial.com\/wp-content\/uploads\/2020\/04\/concepto-economico-cat-1-300x219@2x.jpg 600w\" sizes=\"(max-width: 492px) 100vw, 492px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>La f\u00f3rmula m\u00e9s senzilla de mesurar l\u2019endeutament p\u00fablic \u00e9s prendre la dada de deute total en euros de les administracions p\u00fabliques. <\/p>\n","protected":false},"author":103,"featured_media":23760,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"mc4wp_mailchimp_campaign":[],"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"bottom","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"0","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"0","show_popup_post":"1","number_popup_post":"2","show_author_box":"1","show_post_related":"1","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-715","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"10845","hide":""}},"categories":[10820,10815,10845,10729,7954],"tags":[113,699,4339,8116,8139],"_links":{"self":[{"href":"https:\/\/www.monempresarial.com\/ca\/wp-json\/wp\/v2\/posts\/23769"}],"collection":[{"href":"https:\/\/www.monempresarial.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.monempresarial.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.monempresarial.com\/ca\/wp-json\/wp\/v2\/users\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/www.monempresarial.com\/ca\/wp-json\/wp\/v2\/comments?post=23769"}],"version-history":[{"count":5,"href":"https:\/\/www.monempresarial.com\/ca\/wp-json\/wp\/v2\/posts\/23769\/revisions"}],"predecessor-version":[{"id":46138,"href":"https:\/\/www.monempresarial.com\/ca\/wp-json\/wp\/v2\/posts\/23769\/revisions\/46138"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.monempresarial.com\/ca\/wp-json\/wp\/v2\/media\/23760"}],"wp:attachment":[{"href":"https:\/\/www.monempresarial.com\/ca\/wp-json\/wp\/v2\/media?parent=23769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.monempresarial.com\/ca\/wp-json\/wp\/v2\/categories?post=23769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.monempresarial.com\/ca\/wp-json\/wp\/v2\/tags?post=23769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}