Spain: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain
IMF Staff Country Reports, November 13, 2020
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- Spain: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain
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Bibliographic details
- Published: November 13, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513561004.002
COVID-19 impact and macroeconomic outlook
- The pandemic has hit Spain’s society and economy severely following five years of strong job-rich growth.
- Economy particularly vulnerable because of:
- A large service sector dominated by SMEs.
- Importance of tourism.
- Widespread use of temporary employment.
- Recovery expectations and risks:
- It will take several years for the economy to recover.
- The outlook is subject to strong downside risks.
Key findings and themes (as summarized)
- Severe social and economic impact from COVID-19 after a period of strong job-rich growth.
- Structural features amplify vulnerability: SME-dominated services, tourism reliance, temporary employment prevalence.
- Extended recovery horizon implied; downside risk prominent.
Publication and metadata
- Publication date: November 13, 2020
- Pages: 94
- Volume: 192020
- Issue: 298
- Series: Country Report No. 2020/298
- DOI: https://doi.org/10.5089/9781513561004.002
- Stock No: 1ESPEA2020001
- ISBN: 9781513561004
- ISSN: 1934-7685
Subjects and keywords
- Subject: COVID-19, Financial institutions, Health, Income, Labor, Loan guarantees, Loans, National accounts, Public debt
- Keywords: COVID-19, CR, draft budget law, Europe, GDP outturn, Global, Income, ISCR, Loans, staff appraisal, staff assumption, vis nonresident
Source: Spain: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain (IMF Staff Country Reports 2020, 298).
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- 1espea2020001