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MNI BRIEF: Spain Economic Recovery Seen Over 2021, 2022: IMF​​

MNI SOURCES: EU Officials Fear '21 Fiscal Stance Near Neutral
(MNI) LONDON
LONDON (MNI)

Spain's Covid-hit economy will likely contract by just under 13% in 2020 before recovering 7.2% in 2021 and 4.5% in 2022, the International Monetary Fund's latest Article IV Consultation says. According to the IMF, the pandemic has stopped a 5-year job-rich recovery in its tracks, with Spain seeing one of the largest contractions amongst major advanced nations in the first half of the year.

"The outlook is highly uncertain, with risks heavily tilted to the downside, and will crucially depend on the containment of the second wave of infections; size, timing, and composition of EU-funded additional spending; as well as on the success of policy measures to mitigate the scarring," the report published Tuesday said.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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