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The economic recovery is proving to be robust throughout 2021, but weaker than expected. The inflationary context will significantly offset its benefits. Will economic growth be sustainable from 2022 & beyond? In the latest edition of our report “Ee SPAIN OUTLOOK for Business Strategy” at Equipo Económico (Ee) we foresee that we will witness an incomplete economic recovery, with a rebound of Spanish GDP set around 4.7% and 5.3%, over 2021 and 2022 respectively. Therefore, the Spanish economy would only attain its pre-crisis activity levels in 2023.