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Spain: Staff Report for the 2015 Article IV Consultation - Press Release; Staff Report; and Statement by the Executive Director for Spain

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  • International Monetary Fund

Abstract

This 2015 Article IV Consultation highlights that Spain’s recovery has gathered speed, but unemployment remains very high. Growth has picked up and is expected at 3.1 percent in 2015 and 2.5 percent in 2016, well above the euro area average. Strong policy implementation has supported the return of confidence, and significant external tailwinds are helping the rebound. However, deep structural problems limit Spain’s growth potential going forward, and vulnerabilities remain. The high structural unemployment and pervasive labor market duality, and the lack of economies of scale of Spain’s many small firms hold back medium-term growth. Public and private debt levels are still high and are likely to keep weighing on consumption and investment.

Suggested Citation

  • International Monetary Fund, 2015. "Spain: Staff Report for the 2015 Article IV Consultation - Press Release; Staff Report; and Statement by the Executive Director for Spain," IMF Staff Country Reports 2015/232, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2015/232
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    Cited by:

    1. Ms. Elif C Arbatli Saxegaard & Mr. Dennis P Botman & Kevin Clinton & Pietro Cova & Vitor Gaspar & Zoltan Jakab & Mr. Douglas Laxton & Mr. Constant A Lonkeng Ngouana & Mr. Joannes Mongardini & Hou Wang, 2016. "Reflating Japan: Time to Get Unconventional?," IMF Working Papers 2016/157, International Monetary Fund.
    2. World Bank Group, 2015. "Malaysia Economic Monitor, December 2015," World Bank Publications - Reports 23565, The World Bank Group.
    3. Jake Johnston, 2015. "Partners in Austerity: Jamaica, the United States and the International Monetary Fund," CEPR Reports and Issue Briefs 2015-09, Center for Economic and Policy Research (CEPR).
    4. Kathrin Berensmann & Florence Dafe & Ulrich Volz, 2015. "Developing local currency bond markets for long-term development financing in Sub-Saharan Africa," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 31(3-4), pages 350-378.
    5. Matti Ylönen, 2017. "Policy diffusion within international organizations: A bottom-up analysis of International Monetary Fund tax work in Panama, Seychelles, and the Netherlands," WIDER Working Paper Series wp-2017-157, World Institute for Development Economic Research (UNU-WIDER).
    6. Abdul-Gafaru Abdulai, 2018. "Rethinking elite commitment to social protection in Ghana: Insights from an adapted political settlements approach," Global Development Institute Working Paper Series esid-112-18, GDI, The University of Manchester.
    7. Daniel Appiah & Abdul-Gafaru Abdulai, 2017. "Competitive clientelism and the politics of core public sector reform in Ghana," Global Development Institute Working Paper Series esid-082-17, GDI, The University of Manchester.
    8. Kristín Helga Birgisdóttir & Stefán Hrafn Jónsson & Tinna Laufey Ásgeirsdóttir, 2017. "Economic conditions, hypertension, and cardiovascular disease: analysis of the Icelandic economic collapse," Health Economics Review, Springer, vol. 7(1), pages 1-21, December.
    9. World Bank, 2015. "The Gambia -- Policies to Foster Growth," World Bank Publications - Reports 22382, The World Bank Group.
    10. Matti Ylönen, 2017. "Policy diffusion within international organizations: A bottom-up analysis of International Monetary Fund tax work in Panama, Seychelles, and the Netherlands," WIDER Working Paper Series 157, World Institute for Development Economic Research (UNU-WIDER).
    11. Haydeeliz Carrasco & Hamidou Jawara & Moritz Meyer, 2022. "The Effects Of Fiscal Policy On Inequality And Poverty In The Gambia," Commitment to Equity (CEQ) Working Paper Series 117, Tulane University, Department of Economics.

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