Spain: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain
IMF Staff Country Reports, February 16, 2022
Source details
- Canonical URL
- Spain: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain
Other formats
Bibliographic details
- Published: February 16, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400201370.002
Overview and Near-Term Outlook
- The Spanish economy is recovering from the deep recession caused by the COVID pandemic.
- Employment is already above its pre-pandemic level.
- A highly successful vaccination campaign helped limit the impact of the recent wave of infections on hospitalizations and economic activity.
- Output is expected to return to its pre-pandemic level by the end of 2022.
Key Uncertainties and Risks
- Significant uncertainty around the recovery path related to:
- the evolution of the pandemic, and
- the duration of global supply bottlenecks.
- The pace of absorption and the effectiveness of use of Next Generation EU (NGEU) funds will also affect growth in the coming years.
Policy Challenges and Priorities
- In the near term, the key policy challenge is to:
- continue to provide targeted pandemic support, while
- facilitating resource reallocation and a transformation to a greener and more inclusive economy.
Thematic Coverage (as listed)
- COVID-19
- Employment
- Fiscal policy
- Fiscal stance
- Health
- Inflation
- International organization
- Labor
- Labor markets
- Monetary policy
- Prices
Source: Spain: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain
Content in this bundle
- 1espea2022001