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Outlook for Spain in Covid-19 times: the need to establish the basis for an economic recovery.

Outlook for Spain in Covid-19 times: the need to establish the basis for an economic recovery.

  • Por José María Romero Vera, Andrea Cordero López y Andrea Rodríguez Nieto.
  • 17th of September 2020

The world economy continues to tackle the severe crisis caused by Covid-19. The pandemic has plummeted the Spanish economy harder than the rest of its European partners. The recovery of activity in the weeks following the end of the confinement has not shown the expected drive during the summer. Against this backdrop, Equipo Económico (Ee) has revised its GDP forecast for this year two points downwards, when the drop in GDP will reach -12.0%. The degree of success and effectiveness of economic policy will very much determine the strength of the recovery.

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Spain Outlook: how to move forward on the road to recovery?

Spain Outlook: how to move forward on the road to recovery?

  • Por José María Romero Vera, Marta Otero Moreno and Andrea Cordero López
  • 3rd of March 2021

2021 will be the starting point of the global economic comeback, which will be uneven across regions and sectors. In the latest edition of our report “Ee SPAIN OUTLOOK for Business Strategy” at Equipo Económico (Ee) we foresee that over 2021 and 2022 we will witness an incomplete economic recovery, with a rebound for the Spanish GDP set around 6.5% and 3.2%, respectively. From 2023 on, growth will converge towards a muted potential rate. There is a need in the short term to provide a clear support to businesses. At the same time, profiting from the new European funds, it is time to push forward long delayed structural reforms.

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