Spain’s macro outlook: Rising COVID-19 cases dampen economic forecasts

Spain’s macro outlook: Rising COVID-19 cases dampen economic forecasts

Fecha: 2020

Raymond Torres and María Jesús Fernández

Spanish economy, Economic forecasts, COVID-19

SEFO, Spanish and International Economic & Financial Outlook, V. 9 N.º 5 (septiembre 2020)

In the context of controlled growth in COVID-19 cases and sluggish performance in key sectors, such as tourism, a downward revision of Spain’s forecasts shows a 13% contraction expected for 2020, with pre-COVID growth levels unlikely to return before 2023. The European recovery fund could support Spain’s recovery, but its impact will be limited and short-lived, unless it is accompanied by key reforms.

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