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

August 14, 2015

Preview Citation

Format: Chicago

Spain: Staff Report for the 2015 Article IV Consultation - Press Release; Staff Report; and Statement by the Executive Director for Spain, (USA: International Monetary Fund, 2015) accessed November 25, 2024

Summary

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.

Subject: Employment, Income, International organization, Labor, Labor markets, Monetary policy, National accounts, Public debt, Wages

Keywords: Article IV consultation discussion, Employment, Equity price, Global, Income, Labor markets, Sovereign bond bond yield, Spain executive board meeting, Staff appraisal, Wages

Publication Details

Pages:

64
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/232
Stock No:

1ESPEA2015001
ISBN:

9781513560069
ISSN:

1934-7685

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