The Fiscal Panorama of Latin America and the Caribbean 2025 analyses the evolution and main trends of public revenues, public expenditure, fiscal deficits, public debt and subnational fiscal accounts in the region during 2024. It also examines the tax incentive policies offered to sectors linked to environmental sustainability in the region and proposes the strengthening of their governance to increase their effectiveness. Finally, it analyses the macroeconomic impacts of public investment on economic growth in order to identify policy options to strengthen its impact in the region.