Link Securities | The International Monetary Fund (IMF) has lowered for the second consecutive time the growth forecasts for Spain within a general downward revision of the global GDP for 2022, as reported by the newspaper elEconomista. Spain’s economy will grow by 4.8% in 2022, one point less than in January’s World Economic Outlook (WEO) and 1.6 points less than in October 2021, when the agency predicted a solid 6.4%…
IMF on Spain
The International Monetary Fund revised upwards estimates of global growth in 2020 but warned of a long and asymmetric recovery with uncertainties in which Spain will be the developed economy that falls most in the year. Thus, the agency now expects world GDP to fall by 4.4% in 2020 ( against -4.9% in June), thanks to China’s performance. The IMF forecasts for Spain a fall of 12.8% in 2020 to recover 7.2% in 2021. This drop is more than double that expected for the advanced countries as a whole (-5.8%).
The January update of the IMF’s “World Economic Outlook”, published in October, confirms that Spain will recover this year all the GDP growth lost during the economic crisis, exceeding in 2017 for the first time the volume of growth in 2008.
The Corner | June 8, 2015 | Spanish growth, well above the euro area average, has surprised the IMF on the upside (GDP growth is seen at 3.1% in 2015 and 2.5% in 2016). And reforms have boosted confidence, business investment and consumption. The main headwind for Mariano Rajoy’s government is now a hampering unemployment rate of almost 23.8%, the Washington-based institution says.
NEW YORK | By The Corner Team | Spain is leaving the worst of the crisis behind, as economic output and unemployment are stabilising, the IMF said on Monday. However, the adjustment from a profound recession still poses risks for banks. The Washington based institution, which is monitoring Spain’s financial assistance programme, welcomed the implemented measures but urged banks to boost capital without cutting lending.