Spain: Staff Report for the 2003 Article IV Consultation
IMF Staff Country Reports, April 2, 2004
Source details
- Canonical URL
- Spain: Staff Report for the 2003 Article IV Consultation
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Bibliographic details
- Published: April 2, 2004
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451812060.002
Executive summary and context
- Publication date: April 2, 2004
- Main finding: Although not escaping the global slowdown, the Spanish economy has weathered it relatively well.
- Focus of discussions:
- Minimizing short-term risks.
- Identifying structural reform priorities for the next government.
- Issues of fiscal policy implementation.
Key economic findings
- Household indebtedness:
- Has continued to rise rapidly, recently surpassing the EU average.
- Authorities viewed the related risks to growth as contained.
- Labor market:
- Unemployment has been halved since the mid-1990s, but remains high.
- A number of labor market rigidities persist.
- Other macroeconomic areas discussed:
- Banking
- Housing prices
- Inflation
- Prices
- Public debt
- Social security contributions
- Taxes
Subjects and keywords (as listed)
- Subject: Banking, Employment, Housing prices, Inflation, Labor, Prices, Public debt, Social security contributions, Taxes
- Keywords: CR, demand, demand growth, Employment, employment growth, employment rate, euro, Europe, fund staff projection, Global, Housing prices, Inflation, ISCR, labor market weakness, market participant, mortgage credit, Social security contributions