{
  "title": "Spain: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain",
  "publication": "IMF Staff Country Reports, October 6, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/10/06/spain-2017-article-iv-consultation-press-release-staff-report-and-statement-by-the-executive-45319",
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  "summary": "This 2017 Article IV Consultation highlights continued strong, balanced, and employment-intensive expansion of the Spanish economy during the first half of 2017; the recovery reached a significant milestone when real GDP surpassed its precrisis peak. The economy grew by 3.",
  "publishDate": "2017-10-06",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Growth, recent performance, and projections",
      "content": "- Continued strong, balanced, and employment-intensive expansion during the first half of 2017.\n- Recovery reached a significant milestone when real GDP surpassed its precrisis peak.\n- The economy grew by 3.3 percent in 2016.\n- The economy is expected to expand by 3.1 percent in 2017.\n- Economic activity is projected to moderate to 2.5 percent in 2018 in the absence of any major boost in productivity growth.\n- Timing references: first half of 2017; projections for 2017 and 2018."
    },
    {
      "heading": "Key drivers of the recovery",
      "content": "- Past structural reforms.\n- Wage moderation and resulting cost competitiveness gains.\n- Favorable monetary and external conditions.\n- Fiscal relaxation."
    },
    {
      "heading": "Banking system and financial sector assessment",
      "content": "- The banking system has become more resilient since the last Financial Stability Assessment Program.\n- Subject tags in the source include: Banking, Financial Sector Assessment Program, Financial sector policy and analysis, banking system profitability."
    },
    {
      "heading": "Risks and conditional factors",
      "content": "- Some external tailwinds are dissipating.\n- Moderation to 2.5 percent in 2018 is conditional on the absence of any major boost in productivity growth."
    },
    {
      "heading": "Publication and metadata (as reported)",
      "content": "- Pages: 82\n- Volume: 2017\n- Issue: 319\n- Series: Country Report No. 2017/319\n- Stock No: 1ESPEA2017003\n- ISBN: 9781484323632\n- ISSN: 1934-7685\n- DOI: https://doi.org/10.5089/9781484323632.002\n- Publication date on landing page: October 6, 2017\n\nInternational Monetary Fund. Spain: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain (Country Report No. 2017/319).\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/10/06/spain-2017-article-iv-consultation-press-release-staff-report-and-statement-by-the-executive-45319"
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    "Published: October 6, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484323632.002",
    "Continued strong, balanced, and employment-intensive expansion during the first half of 2017.",
    "Recovery reached a significant milestone when real GDP surpassed its precrisis peak.",
    "The economy grew by 3.3 percent in 2016.",
    "The economy is expected to expand by 3.1 percent in 2017.",
    "Economic activity is projected to moderate to 2.5 percent in 2018 in the absence of any major boost in productivity growth.",
    "Timing references: first half of 2017; projections for 2017 and 2018.",
    "Past structural reforms.",
    "Wage moderation and resulting cost competitiveness gains.",
    "Favorable monetary and external conditions.",
    "Fiscal relaxation.",
    "The banking system has become more resilient since the last Financial Stability Assessment Program.",
    "Subject tags in the source include: Banking, Financial Sector Assessment Program, Financial sector policy and analysis, banking system profitability.",
    "Some external tailwinds are dissipating.",
    "Moderation to 2.5 percent in 2018 is conditional on the absence of any major boost in productivity growth.",
    "Pages: 82",
    "Volume: 2017",
    "Issue: 319",
    "Series: Country Report No. 2017/319",
    "Stock No: 1ESPEA2017003",
    "ISBN: 9781484323632",
    "ISSN: 1934-7685",
    "DOI: https://doi.org/10.5089/9781484323632.002",
    "Publication date on landing page: October 6, 2017",
    "**Country Report**"
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