Spain will be the advanced economy with the largest growth this year, behind only the United States, according to the International Monetary Fund.

The Spanish economy is receiving good news again. The International Monetary Fund has once again improved our country's forecasts, estimating that GDP will advance by 2.4 percent this year. This is half a percentage point more than the previous forecast of the body headed by Kristalina Georgieva.

Moreover, according to the International Monetary Fund, Spain is consolidating itself as the economic engine of Europe, as the industrialized country that will achieve the largest growth in the world, after only the United States, whose economy is expected to grow by 2.6 percent.

“Spain is a bright spot in the eurozone”

“Spain is a bright spot in the euro area.” These are the words of the Deputy Director of the Research Department of the International Monetary Fund, Petia Cueva Brooks, who stressed that these expectations are due to the recovery of investment in our country and “very strong” service exports.

“The global economy on the ropes”

The International Monetary Fund today published its report, “The World Economy on the Ropes,” in which the organization guarantees that global growth will remain “unchanged,” despite continuing inflation. The report also indicates that the global economy will grow by 3.2 percent in 2024, and by more than a tenth in 2025.

The IMF insists that inflation in services, such as tourism, is “weighing on inflation” and “complicating” the normalization of monetary policy. This means that the risk of inflation rising again is greater, leaving a scenario where interest rates remain higher for longer than expected.

“Modest recovery in the euro area”

In the euro area, the IMF says, activity appears to have “bottomed out”. It expects, as in its previous forecast, a moderate recovery of 0.9% this year. That’s a tenth faster than previously estimated. Behind the figure is “stronger momentum” in services and a higher-than-expected increase in net exports.

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