Spain’s outlook for pandemic recovery: Areas of outperformance and pending challenges

Letter from the Editors

Spanish economy

The Spanish economy in recovery mode: Opportunities and challenges

Recent indicators point to a vigorous economic recovery for Spain, with GDP set to grow by 6.3% this year despite rising infection rates, supply chain ...

Covid impact

COVID-19 and its asymmetric impact in Spain by province: Recent trends and projections

The COVID-19 crisis in Spain has been marked by a triple asymmetrical impact in terms of timing, sector and region. While those sectors and regions ...

Forbearance patterns

Forbearance patterns at Spanish banks: Impact of COVID-19

Government support measures such as the furlough scheme and payment moratoria have artificially held down a rise in Spanish banks’ NPL ratios. However, ...

Provisioning outlook

Decoupling between non-performance and provisions

Surprisingly, Spain saw its banks’ non-performance ratio fall during the crisis alongside a significant provisioning effort. However, if banks are to ...

Housing market

The Spanish housing market post COVID-19

While COVID-19 did lead to an initial correction in Spain’s housing market, costs of home purchases have continued to rise, albeit with some differences ...

Fiscal accounts

The outlook for the deficit: The calm before the storm

It will require a concerted effort to bring down Spain’s deficit and debt levels, involving higher annual reductions than those prior to the pandemic. ...

Institutional framework

Institutional reforms: A source of productivity gains for the Spanish economy

Spain’s declining total factor productivity is partially attributed to institutional weaknesses in areas such as transparency, the justice system, ...

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: July 2021
Funcas Economic Trends and Statistics Department
Key Facts
Economic Indicators
Financial System Indicators
Social Indicators