Spain : Staff Report for the 2015 Article IV Consultation - Press Release; Staff Report; and Statement by the Executive Director for Spain

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

August 14, 2015

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This 2015 Article IV Consultation highlights that Spain’s recovery has gathered speed, but unemployment remains very high. Growth has picked up and is expected at 3.1 percent in 2015 and 2.5 percent in 2016, well above the euro area average. Strong policy implementation has supported the return of confidence, and significant external tailwinds are helping the rebound. However, deep structural problems limit Spain’s growth potential going forward, and vulnerabilities remain. The high structural unemployment and pervasive labor market duality, and the lack of economies of scale of Spain’s many small firms hold back medium-term growth. Public and private debt levels are still high and are likely to keep weighing on consumption and investment.

Series:

Country Report No. 15/232

Subject:

English

Publication Date:

August 14, 2015

ISBN/ISSN:

9781513560069/1934-7685

Stock No:

1ESPEA2015001

Format:

Paper

Pages:

64

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