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Spain: Staff Report for the 2003 Article IV Consultation

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  • International Monetary Fund

Abstract

Although not escaping the global slowdown, the Spanish economy has weathered it relatively well. The discussions focused on minimizing short-term risks and on identifying the structural reform priorities for the next government. However, household indebtedness has continued to rise rapidly, recently surpassing the EU average; the authorities viewed the related risks to growth as contained. The discussions also centered on issues of fiscal policy implementation. Although unemployment has been halved since the mid-1990s, it remains high and a number of rigidities persist.

Suggested Citation

  • International Monetary Fund, 2004. "Spain: Staff Report for the 2003 Article IV Consultation," IMF Staff Country Reports 2004/089, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2004/089
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