Spain : Staff Report for the 2002 Article IV Consultation

This 2002 Article IV Consultation highlights that Spain experienced a second year of subdued growth in 2002—albeit at a rate still well above the euro area average. This was largely owing to the relative resilience of Spain's domestic demand, which in turn was supported by a comparatively stronger showing of investment, sustained by booming construction activity and a continued public infrastructure effort. After having been the mainstay of the earlier upswing, private consumption lost momentum, as households coped with rising inflation and higher indebtedness.
Publication date: February 2003
ISBN: 9781451812053
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budget , debt , interest , deficit , article

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