The Diplomat
The International Monetary Fund (IMF) estimates that the Spanish GDP will experience a growth of 5.8% in 2022, which places our country at the head of the advanced economy countries.
According to estimates published yesterday by the IMF, Spain will grow by 6.2% in 2021 and 5.8% in 2022. With these figures, the forecasts for Spain decrease by 0.2% with respect to the previous estimates of last April for 2021 (which were 6.4%) and increase by 1.1% with respect to the same estimates for 2022 (from 4.7% to 5.8%).
If these forecasts are fulfilled, Spain would be the country with the highest growth within the Euro Zone in 2021, since the IMF expects an increase of 5.8% for France, 4.9% for Italy, 3.6% for Germany and 4.6% for the Euro Zone as a whole. As for the rest of the more advanced economies, the 2021 forecasts are 7% for the United States and the United Kingdom, 6.3% for Canada, 2.8% for Japan and 5.6% for the whole.
The IMF’s Spanish outlook for 2022 is more promising, since the forecast growth of 5.8% places our country not only at the head of the Euro Zone (4.1% for Germany, 4.2% for France, 4.2% for Italy and 4.3% for the whole), but even ahead of the most advanced economies (4.9% for the USA, 4.8% for the UK, 4.5% for Canada, 3% for Japan and 4.4% for the whole). The report does not include China.
The document also warns that, although “the global economic recovery continues”, “the gap between advanced economies and emerging market and developing economies” is widening. As such, the upward revision to growth for advanced economies in 2021 “is exactly offset by a downward revision to projections for emerging market and developing economies due to a significant downgrade of the forecast for emerging Asia.”
“Recovery is not guaranteed as long as the global pandemic has not been defeated,” warns Kristalina Georgieva’s agency. “Concerted and well-targeted policy actions at the multilateral and national levels can make the difference between a future in which all economies experience lasting recoveries and one in which divisions deepen, the poor get poorer, and geopolitical tensions and social unrest increase,” it adds. The IMF therefore calls for “multilateral action to ensure rapid access to vaccines, diagnostics, and therapies worldwide” and calls for “financially constrained economies to maintain access to international liquidity.”
