Spanish economy to boom in 2016 despite government uncertainty

IMF upgrades predictions for Spain while downgrading outlook for world economy

LAST UPDATED: 23 Jan, 2016 @ 17:41
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SPAIN is set to outpace the world’s leading advanced economies in 2016, according to the International Monetary Fund (IMF).

The agency upgraded its outlook for Spanish GDP, predicting growth of 2.7% in 2016 and 2.3% in 2017.

ECONOMY: IMF gives Spain thumbs up
ECONOMY: IMF gives Spain thumbs up

This is despite continued uncertainty surrounding Spain’s political future, with parties so far fragmented and unable to form a government.

The vote of confidence in Spain’s economy comes as the IMF downgraded its forecast for the world’s economy to 3.4% and 3.6% in 2016 and 2017, a drop of 0.2% from its last predictions in October.

Stock markets have been in turmoil as oil prices slump to record lows and fears mount over a slowdown in China’s economy.

 



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6 COMMENTS

  1. All low paying jobs, professionals with degrees are moving away and have been ever since the crisis.
    So unemployment will get lower but purchasing power will still not be that strong as people will only have enough money for the basics.
    The article also doesn’t mention GDP to debt ratio which was sitting at 10%

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