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  1. OECD Economic Surveys: Spain
  2. Volume 2007
  3. Issue 001
  4. OECD Economic Surveys: Spain 2007
  5. Chapters
  6. Main policy challenges
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Volume 2014
Volume 2012
Volume 2010
Volume 2008
Volume 2007
Issue 001
OECD Economic Surveys: Spain 2007
Chapters
Assessment and recommendations
Main policy challenges
Returning to more sustainable growth
Medium and long-term fiscal issues
Strengthening innovation
Improving the functioning of goods and service markets
Volume 2005
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Main policy challenges

Content Provider OECD iLibrary
Organization OECD
Abstract Spanish economic growth, sustained by sharply rising domestic demand and employment, has remained strong in recent times, and the differential in per capita GDP with the euro area average fell to an estimated 12% in 2005. Nevertheless, the imbalances that have been accompanying the expansion for some years now raise persistent questions as to whether the expansion can last: i) the still high inflation differential with the euro area average is eroding competitiveness and helping to widen the external deficit, which has now reached a historic high; ii) developments in the housing market, where real prices have doubled since 1998, and mounting household debt remain disturbing; and iii) productivity growth is still extremely low. Moreover, from a longer-term standpoint, the currently sound position of public finances could be threatened, given the expected consequences of population ageing. There is broad consensus on this assessment of the Spanish economy and the need to find remedies for these difficulties, prompting the authorities to continue to implement their 2005 National Reform Programme. However, in some cases there are questions about the pace and ambition of the measures introduced thus far for meeting these challenges.
Page Count 41
Starting Page 21
Ending Page 56
Language English
Publisher OECD Publishing
Publisher Date 2007-02-08
Access Restriction Open
Subject Keyword Economics
Content Type Text
Resource Type Chapter
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