Spain: Staff Report for the 2002 Article IV Consultation

International Monetary Fund

No 2003/040, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2002 Article IV Consultation highlights that Spain experienced a second year of subdued growth in 2002—albeit at a rate still well above the euro area average. This was largely owing to the relative resilience of Spain’s domestic demand, which in turn was supported by a comparatively stronger showing of investment, sustained by booming construction activity and a continued public infrastructure effort. After having been the mainstay of the earlier upswing, private consumption lost momentum, as households coped with rising inflation and higher indebtedness.

Keywords: ISCR; CR; government; director; collective bargaining system; firm; income level; banking sector; Doha round; labor market; fiscal policy; GDP deflator; exchange rate; Inflation; Fiscal stance; Competition; Europe; Global (search for similar items in EconPapers)
Pages: 56
Date: 2003-02-28
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