Spain: 2007 Article IV Consultation-Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 175

Publication date: May 2007

ISBN: 9781451812275

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Topics covered in this book

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Banks and Banking , Exports and Imports , Finance , Economics- Macroeconomics , Public Finance , ISCR , CR , surplus , correction construction sector , indebtedness , revenue outturn , surplus target , stock market turbulence , revenue collection , Fiscal stance , Trade balance , Financial sector , Credit , Caribbean , Global

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Summary

Spain’s 2007 Article IV Consultation underlies that immediate growth prospects are bright and the central scenario is for a smooth landing but with appreciable downside risks. The Spanish economy enjoyed another year of remarkable growth in 2006, further extending its prolonged expansion. Output growth gathered pace in the course of 2006 to reach 3.9 percent for the year, and brisk job creation absorbed further increases in female participation and immigration, and inflation moderated appreciably.