• Economic News The State wants to take over the economy after the Covid

Spain suffered in 2020 the biggest economic collapse of all the developed economies in the world.

And, also, of many others that are not so.

This has been certified by the OECD, an organization this Tuesday published its new world forecasts and evidence that the 11% that collapsed the Gross Domestic Product (GDP) of Spain exceeds the fall of any of the large economies of the Eurozone.

But it is also above the decline in

South Africa

(-7.2%),

Mexico

(-8.5%) and even the 10% that

Argentina's

ailing economy collapsed

.

A dubious merit that is undoubtedly directly related to the composition of Spain's GDP and the existing dependence on

tourism and hospitality

.

However, the government's own management also had an important influence on that figure, with

measures against the pandemic that were taken late

compared to the contagion figures and the decisions of other countries.

And when the Spanish economy performed comparatively better in the last part of the year, the

worst data from other

European

nations was

the final straw.

The result is that 11% that, in addition to the comparisons already made, pales the 6.8% that the Eurozone as a whole collapsed.

It is only close, in addition to the aforementioned fall in Argentina, the 9.9% that the United Kingdom sank after following an initial strategy in which it tried to achieve a certain group immunity and, later, applied harsh confinements.

GDP growth March 2020

Improve forecasts

The OECD document also contains a significant improvement in the forecasts for Spain, as well as for practically all the economies analyzed.

In the specific case of the Spanish economy, the body led by Ángel Gurría forecasts a rebound of

5.7% in 2021 and 4.8% in 2022

.

This is an increase of seven and eight tenths, respectively.

But even so, the improvement leaves the forecast very far from the rebound of 9.8% that the Government reflected in the General State Budgets (PGE), and also of the 7% that the Vice President of Economic Affairs, Nadia Calviño, always tries to defend. , in its "inertial scenario".

For the

Eurozone as a

whole, the

upward revision is smaller, largely given that for both France and Italy the OECD has made slight downward revisions.

As a whole, the euro zone will grow by 3.9% this year and 3.8% next, while

the world economy will rebound by 5.6% this year

, representing a notable increase of 1.4 points.

A good part of that best estimate rests on the increase of up to three points that the agency decrees for the United States, a country that will grow 6.5% this year.

Among the reasons that the Organization for Economic Co-operation and Development highlights for a better economic context are the "deployment of

effective vaccines

";

"the announcement of

additional fiscal measures

in some countries";

and the fact that economies are being able to better manage measures to deal with the virus.

According to the criteria of The Trust Project

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