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Spain

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  • Daniel Bulin

Abstract

Out of recession since 2014, Spain's economy grew robustly in 2016, exceeding both the EU and Eurozone average. This favourable trend is a result of the recovery in domestic demand, and particularly the positive evolution in private consumption, but also of increasing investments, even if at a much lower rate than in previous years. The economic recovery has a positive impact on the level of unemployment, respectively the budget deficit, moderating both indicators. Spanish companies have also overcome the political uncertainty over the last period, and managed to maintain their export competitiveness. The Spanish economy is still experiencing high unemployment, with its structural component remaining profoundly negative. The major risk facing the Spanish economy remains the high level of public debt, while the forecasts do not suggest any improvement in this respect. For the 2017-2018 period, projections show a possible slowdown in growth, but given the favourable developments in recent years, the emergence of other significant risks is not likely.

Suggested Citation

  • Daniel Bulin, 2017. "Spain," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy, pages 136-143.
    • Handle: RePEc:iem:conjun:y:2017:p:136-143
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