Spain: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain

November 21, 2018

Preview Citation

Format: Chicago

Spain: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain, (USA: International Monetary Fund, 2018) accessed October 6, 2024

Summary

Spain’s economy has continued to grow strongly, reflecting its improved fundamentals. However, especially the young generation still faces daunting economic challenges. In the meantime, several downside risks are clouding the medium-term outlook. Externally, they comprise sudden changes in investors’ global risk appetite, escalating global protectionism, and weakening conditions in emerging economies. Domestically, they include pressure to reverse reforms, continued procyclical fiscal policy, and prolonged uncertainty related to Catalonia. These could hurt the economy particularly in an environment of high public debt and structural unemployment as well as sluggish productivity growth, which is set to slow Spain’s income convergence.

Subject: Banking, Income, Labor, Labor markets, National accounts, Public debt, Wages

Keywords: CR, Europe, Global, Government debt-to-GDP ratio, IMF staff calculation, IMF staff estimate, Income, ISCR, Labor market duality, Labor markets, Liability positions vis-à-vis nonresident, Money market rate, Wages

Publication Details

Pages:

82
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/330
Stock No:

1ESPEA2018001
ISBN:

9781484385715
ISSN:

1934-7685

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