Centro de Documentacion de Fundación MAPFRE - Spain country risk report Q1 2024 : includes 10-year forecasts to 2032

MAP20230024669

Spain country risk report Q1 2024 : includes 10-year forecasts to 2032. — London : BMI a Fitch Solutions, 2024

64 p.

Sumario: Spain was one of the hardest hit economies by the Covid-19 pandemic, though it has weathered the effects from Russia's invasion of Ukrainereasonably well. We expect the negative repercussions of these shocks - namely a surge in public debt and tighter monetary conditions - to be feltin the years ahead, as these developments will limit the government's ability to counter future recessions with aggressive fiscal stimulus. This willleave Spain vulnerable to prolonged bouts of sub-trend growth in the event of future potential negative shocks. Additional challenges also lie ahead (such as a worsening demographic profile amid weak productivity growth), but, as part of its Recovery and Resilience plan, the government has committed to implement significant structural reforms aimed at boosting competitiveness in key export-orientated industries, ensuring the sustainability of the pension system and increasing educational attainment. While we see some scope for such reforms to be effective, helping to lower high youth unemployment, the lack of a strong political consensus may delay the implementation of some of these reforms

1. Política económica . 2. Crecimiento económico . 3. Perspectivas económicas . 4. Deuda pública . 5. Demografía . 6. Riesgo país . 7. Industria . 8. Sistemas de pensiones . 9. Desempleo . 10. España . I. Fitch Solutions . II. Título.