Spain 2021 growth

Gita Gopinath

IMF Cuts Spain’s Growth Forecast For 2021 And Casts Doubt On The Government’s Estimates

The International Monetary Fund updated its estimates on Tuesday, attributing a GDP growth for Spain of 5.9% in 2021, down from 7.2% in its October projection. This is a significant difference with respect to the 9.8% forecast of the Spanish government, on which the Budget approved last December is based. In fact, the macroeconomic accounts presented in October by Pedro Sánchez pointed to projections of an inertial expansion of -11.2% on a yearly basis in 2020 and +7.2% for 2021 (+9.8% including the Recovery Plan).