Download file
In its autumn perspectives, the European Commission forecasts a 12.4% yearly decrease in GDP for Spain in 2020 (vs. -9.4% in its spring forecast), making it the economy to register the biggest downturn.
In 2021, the Spanish economy will grow 5.4%, 1.6pp less than estimated in May, and will not recover production levels prior to the crisis until 2022.
In spite of the contraction in GDP, a lower increase in unemployment than that of the 2008 crisis is expected.
Fiscal stimulus policies designed to reactivate the economy will condition the future sustainability of public finances.