Spain: 2007 Article IV Consultation-Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
IMF Staff Country Reports, May 18, 2007
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- Spain: 2007 Article IV Consultation-Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
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Bibliographic details
- Published: May 18, 2007
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451812275.002
Overview and central scenario
- Immediate growth prospects are bright.
- The central scenario is for a smooth landing but with appreciable downside risks.
- Publication date: May 18, 2007.
Growth performance and projection
- Output growth gathered pace in the course of 2006 to reach 3.9 percent for the year.
- The Spanish economy enjoyed another year of remarkable growth in 2006, further extending its prolonged expansion.
Labor market and demographic factors
- Brisk job creation absorbed further increases in female participation and immigration.
Inflation and price developments
- Inflation moderated appreciably (as reported for the 2006 period).
Risks and policy implications
- While near-term prospects are favorable, appreciable downside risks warrant vigilance.
- Policy considerations implied by the assessment include monitoring vulnerability from downside scenarios and sustaining policies that support a smooth adjustment (policy recommendations summarized from the central assessment in the report).
Thematic coverage (subjects and keywords as listed in the report)
- Subjects: Banking, Credit, Economic sectors, Expenditure, Financial sector, Fiscal policy, Fiscal stance, International trade, Money, Trade balance.
- Keywords: Caribbean, correction construction sector, CR, Credit, Financial sector, Fiscal stance, Global, indebtedness, ISCR, revenue collection, revenue outturn, stock market turbulence, surplus, surplus target, Trade balance.
Source: Spain: 2007 Article IV Consultation-Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion, May 18, 2007.