• Coast FM

Economic outlook for Spain improves

The economic outlook for Spain has slightly improved as the impact of the coronavirus pandemic eases. Declining coronavirus cases and deaths, coupled with a steady vaccination drive, are stimulating activity, consumption and public confidence. As a result, the Bank of Spain has slightly raised its 2021 growth prospects for the Spanish economy from 6% to 6.2%. For next year, the forecast is being bumped up from 5.3% to 5.8%.Following an interruption of growth caused by the stricter coronavirus restrictions in force in late 2020 and early 2021, the economy is expanding again as reopenings get underway. Figures have been improving since March.

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