Spain: 2016 Article IV Consultation-Press Release; Staff Report; Informational Annex; Staff Statement; and Statement by the Executive Director for Spain

January 30, 2017

Preview Citation

Format: Chicago

Spain: 2016 Article IV Consultation-Press Release; Staff Report; Informational Annex; Staff Statement; and Statement by the Executive Director for Spain, (USA: International Monetary Fund, 2017) accessed November 23, 2024

Summary

This 2016 Article IV Consultation highlights that Spain’s economy has continued its recovery. Real GDP expanded by 3.2 percent in 2015 with the same growth rate expected for 2016, despite a prolonged period of domestic political uncertainty. Nearly 1.1 million jobs were created over the past two years. The rebound in private consumption, exports, and investment, aided by past reforms, has remained the main driver of growth. The current account is projected to record its fourth consecutive annual surplus. Private sector balance sheets have further strengthened, while public debt remains high at about 100 percent of GDP. Real GDP growth is projected to moderate to 2.3 percent in 2017.

Subject: Banking, Employment, Fiscal policy, Fiscal stance, Labor, Labor markets, Public debt, Taxes, Value-added tax

Keywords: Contract, CR, Employment, European Court of Justice ruling, Fiscal stance, Global, IMF staff estimate, ISCR, Labor market duality, Labor markets, Mortgage contract, Value-added tax, Vis nonresident

Publication Details

Pages:

84
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/023
Stock No:

1ESPEA2017001
ISBN:

9781475572612
ISSN:

1934-7685

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