IMF Staff Country Reports

Spain showed strong growth performance marked by robust job creation and a solid fiscal position. Executive Directors supported the National Reform Program (NRP), which focuses on improving productivity, market flexibility, and competitiveness. They commended the appreciable fiscal surplus, pension reserve fund, and the public debt reduction. They welcomed the new Budget Stability Law (BSL), appreciated the Financial Sector Assessment Program (FSAP) assessment and the monetary stance of the Bank of Spain. They emphasized the need to regain competitiveness through the implementation of structural reforms.