Spain: Staff Report for the 2003 Article IV Consultation

April 2, 2004

Preview Citation

Format: Chicago

Spain: Staff Report for the 2003 Article IV Consultation, (USA: International Monetary Fund, 2004) accessed December 27, 2024

Summary

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.

Subject: Banking, Employment, Housing prices, Inflation, Labor, Prices, Public debt, Social security contributions, Taxes

Keywords: CR, Demand, Demand growth, Employment, Employment growth, Employment rate, Euro, Europe, Fund staff projection, Global, Housing prices, Inflation, ISCR, Labor market weakness, Market participant, Mortgage credit, Social security contributions

Publication Details

Pages:

58
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2004/089
Stock No:

1ESPEA0012004
ISBN:

9781451812060
ISSN:

1934-7685

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