IMF Staff Country Reports

Spain: Staff Report for the 2003 Article IV Consultation

April 2, 2004

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Spain: Staff Report for the 2003 Article IV Consultation, (USA: International Monetary Fund, 2004) accessed November 12, 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:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2004/089

  • Stock No:

    1ESPEA0012004

  • ISBN:

    9781451812060

  • ISSN:

    1934-7685