Spain

Iulia Oehler-Şincai

Conjunctura economiei mondiale / World Economic Studies, 2014

Abstract: After five years of double-dip recession, the Spanish economy entered a phase of slow recovery at the end of 2013. According to the international experts, this economic revival is mainly due to export performance. In spite of the economic slowdown at the level of developing/emerging countries, the GDP growth has accelerated in developed countries, which has created the prerequisites for a favourable external demand. At the same time, the reinvigoration of activity in the manufacturing and services sectors has gradually boosted employment and the domestic demand has increased. The Spanish government has managed to reach an acceptable level of credibility on the external financial markets, implying a progressive decrease of the bond yields below the pre-crisis level. In order to consolidate this credibility, it is necessary that the fiscal consolidation process continues at an adequate pace, taking into account the labour market realities and the fact that more than a quarter of population is unemployed.

Keywords: Spain; macroeconomic indicators; economic growth; inflation; unemployment; general government net lending/borrowing; gross debt; structural weaknesses (search for similar items in EconPapers)
JEL-codes: E21 E22 E23 E24 F21 F44 (search for similar items in EconPapers)
Date: 2014
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Journal Article: Spain (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:iem:conjun:y:2014:id:2822000009586043

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