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Spain: Selected Issues

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  • International Monetary Fund

Abstract

This Selected Issues paper analyzes household savings ratio in Spain. The household savings ratio has fallen to its lowest historical rate in 2012, as households cut back savings to support consumption in response to negative income shocks. Household savings fell across all households, but the declines were likely more material among lower income and highly indebted groups. Declining household income and savings slowed deleveraging and put household balance sheets under pressure. Looking ahead, households may need to restrain consumption further to free resources for repaying debt. Household savings rates will likely stay below historical levels for some time then slowly increase.

Suggested Citation

  • International Monetary Fund, 2013. "Spain: Selected Issues," IMF Staff Country Reports 2013/245, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2013/245
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=40845
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    Cited by:

    1. International Monetary Fund, 2015. "Spain: Selected Issues," IMF Staff Country Reports 2015/233, International Monetary Fund.
    2. Javier J. Pérez & Rocío Prieto, 2015. "Risk Factors and the Maturity of Subnational Debt," Public Finance Review, , vol. 43(6), pages 786-815, November.

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