SPAIN’S economic outlook has been upgraded more than any other large economy – including even emerging countries.
The International Monetary Fund has boosted the country’s growth forecast to 2.9% for this year – outpacing even the USA and higher than the Spanish government’s own prediction of 2.7%.
The upgrade came between the IMF’s spring and autumn meetings, meaning the growth forecast has increased by one full point, outstripping every competitor.?
And Spain is set to continue its strong performance into 2025, with current projections – always subject to change – anticipating growth of 2.1%.
This two-year performance makes Spain the surprise economic success story among advanced economies over the two-year period.
Within the eurozone, only three smaller nations – Croatia (3.4%), Cyprus (3.3%) and Malta (5.0%) – are expected to grow faster this year.
The positive outlook extends to inflation, with Spain expected to see prices rise by just 1.9% by year-end, below the eurozone average of 2%.
However, unemployment remains Spain’s Achilles heel, with the jobless rate predicted to stay at 11.6% this year – the highest among major economies – before slightly improving to 11.2% in 2025.
The strong performance is particularly…
