Spain : 2013 Article IV Consultation

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

August 2, 2013

Electronic Access:

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Summary:

This 2013 Article IV Consultation highlights that the Spanish economy accumulated large imbalances during the long boom that ended with the global financial crisis. Unemployment soared, the fiscal position deteriorated sharply, and funding conditions tightened for both the public and private sectors. Key imbalances are correcting rapidly. Growth has been negative in the last seven quarters, unemployment has reached high levels, and financing conditions remain tight for small firms. The reform process has accelerated and deepened. Decisive reforms in the labor, financial, and fiscal sectors, in line with past IMF staff recommendations, is helping stabilize the economy.

Series:

Country Report No. 13/244

Subject(s):

English

Publication Date:

August 2, 2013

ISBN/ISSN:

9781484343180/1934-7685

Stock No:

1ESPEA2013003

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

66

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