EUR 88.38 For Business Accounts Only

Spain 2017: A shining sun for a renewed economy

The Spanish economy is experiencing robust growth. Both domestic and external demand are contributing to this evolution, a remarkable fact for our economy because they have usually evolved with opposite sign. The imbalances that were built at the beginning of the century are corrected and the fundamentals are sound. GDP is expected to increase +3.2% and +2.9% in 2017e and 2018e with a positive contribution of both domestic and external demand. Public deficit may decline to 3.2% and 2.2% in 2017e and 2018e, respectively, while the public debt/GDP ratio peaked in 2015 and may decline to 99.0% in 2017e and 97.6% in 2018e. The negative: the necessary reform of the public pensions and the politic situation in Catalonia.