Banca March : The forecasts of the Bank of Spain and the OECD, the bitter and the sweet. Regarding economic growth, the Bank of Spain forecasts values for this year identical to those estimated in the last projection, namely 2.3%. However, expectations for the variation in GDP for the coming years fall (1.8% compared with 2.2% in 2024 and 2% compared with 2.1% in 2025). In the case of the…
BancaMarch: The Paris-based organisation expects Spain to grow by 2.1% in 2023, improving its forecast for the country by up to four tenths of a percentage point compared to the previous report and in line with the government’s expectations. Looking ahead to 2024, the OECD also raises its forecasts, from 1.7% to 1.9%, although here it is below the executive’s forecast (+2.4%). With these forecasts, Spain will be the large…
According to the Organisation for Economic Co-operation and Development (OECD), Spain’s Gross Domestic Product (GDP) will grow by 5.9% in 2021 (5.7%; previous estimate), and by 6.3% in 2022 (4.8%; previous estimate). Thus, it will take three and a half years for Spain to recover its pre-crisis level of GDP per capita. Only Iceland and Mexico, of the 38 OECD member states, will take longer to recover it.
Spain, which has held the rotating presidency of the Ministerial Meeting of the OECD Council during 2020, had raised the need for the organization to work on a reference framework for safe international mobility. As part of the celebration of the 60th anniversary of the Organization, Spanish PM Pedro Sanchez has presented an initiative for the development and coordination of a harmonised system in all countries to open borders safely for economic recovery after the crisis caused by the Covid-19 pandemic.
Santander Corporate & Investment | The Fed does not expect the economy to fully recover until 2022 and expects GDP to fall by 6.5% and unemployment of 9.3% in 2020. The OECD also distances itself from V-shaped scenarios and warns of the worst peacetime recession in 100 years. In scenarios without second waves of Covid-19, the OECD anticipates a global contraction of 11.5% in H1’20 and neither does it expect world GDP to approach the pre-coronavirus level by end-2021.
J.P. Marín- Arrese | The Spanish government has tabled a proposal for a Google tax but will refrain from applying it till the year-end. They boasted not so long ago that nothing could deter it from taxing the tech companies. When confronted with the task of delivering its promise, courage seems to falter even if Washington has issued no explicit warning. Presumably, the French discomfiture conveyed a stern lesson of what happens to anyone defying the US.
The Organisation for Economic Cooperation and Development (OECD) has again downgraded global economic growth for 2019 to 3.3%. However, the most striking point was the strong downgrade of Eurozone GDP growth, which it now forecasts at only 1% when only a few months ago it was expecting 1.8%. Germany and Italy are the countries that emerge worse from this severe downgrade of growth.
Spain ended 2017 with a loss of price-competitiveness at an accumulated level in comparison with the EU (0.8%), as well as with the OECD (1.5%) and the BRIC countries – Brazil, Russia, India, China and South Africa – (0.5%), according to the Index for the Trend in Competitiveness (ITC).
All the figures and statistics related to education in our country paint a picture which is not just bad, but catastrophic…For example, the number of young Spaniards who don’t even have a high-school education, 35%, is double the OECD average.
Investments in the global energy sector during 2016 totalled 1.7 billion dollars (1.5 billion euros), equivalent to 2.2% of global GDP, but also representing a 12% decline compared with a year earlier. This is the second consecutive annual drop