Macro - Country Economic Forecasts - Spain

Macro - Country Economic Forecasts - Spain

The invasion of Ukraine by Russia will slow growth this year. The war has led to soaring energy prices and will push inflation even higher, eroding household real incomes. We now expect GDP to grow 5.1% this year (from a previous 5.6% forecast) and 3.9% in 2023. If the conflict escalates and continues for an extended period, it will lead to further downward revisions given the impact on inflation, incomes, confidence and supply chains.

Untitled Chapter
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Economic development
Structure of the economy
Balance of payments and structure of trade

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