Perspectives on Spain’s economy and fiscal consolidation

Letter from the Editors

Spanish outlook

Spain’s economic and fiscal outlook

GDP growth is expected to slow to 1.5% in 2024, down 0.9% from this year, although still significantly above the EU average, with inflation also expected to ...

GDP revisions

Spain’s revised national accounting statistics: Positive and negative takeaways

September’s annual revision of Spain’s national accounts data for the years 2020 to 2022 resulted in an upward adjustment to the initially forecast ...

Tourism sector

New tourist flows boost summer arrivals virtualy back to pre-pandemic levels

The high expectations for the recovery in international tourism appear to have been met this summer by comparison with 2019, particularly in terms of daily ...

Fiscal outlook

Public revenue and expenditure forecasts for 2024 under a no policy change scenario

Growth in total state revenue is expected to slow in 2024, while growth in public expenditure is forecast to slow over the same time frame. Given that wage and ...

Rules reform

EU fiscal rules reform and Spain’s fiscal position

After Spain’s public deficit initially soared to 10% of GDP and the public debt level rose to historical highs of 120% of GDP in the wake of the ...

Mortage prepayment

Mortgage prepayment: An alternative to saving

After one year of intense interest rate increases, coupled with very slow pass-through to deposit rates, households have moved decisively to reconfigure their ...

Insurance sector

The resurgence of insurance products in Spain

In what looks to be the tail end of the monetary policy tightening cycle, the insurance business in Spain is staging spectacular growth in revenue (premiums), ...

Deposit remuneration

Deposit remuneration in Spain

The ultra-expansionary monetary policy in place until 2021 had the obvious benefit of providing official liquidity at a time when the banks were finding it ...

Regulation and Economic Outlook
Recent key developments in the area of Spanish financial regulation
Prepared by the Regulation and Research Department of the Spanish Confederation of Savings Banks (CECA)
Spanish economic forecasts panel: November 2023
Funcas Economic Trends and Statistics Department
Key Facts
Economic Indicators
Financial Indicators
Social Indicators