The OECD improves Spain's forecast for this year but sinks that of 2023 and warns that there will be more inflation

The OECD confirms

.

The world, the European and, of course, also the Spanish.

In the case of Spain, the forecast for this year, it is true, registers an improvement of three tenths, with which the figure reaches 4.4%.

It slightly improves the Government's estimate, which points to 4.3%.

But in 2023, the agency applies a strong cut compared to its previous estimate: it sinks the advance of the Gross Domestic Product (GDP)

, with which the Spanish economy will rebound by a slight 1.5%.

But it will even be the situation of the rest of the great European economic powers, with

entering a recession and with its economy contracting by 0.7%;

and

picking up 0.6% and 0.4%, respectively;

and the

as a whole advancing just 0.3%.

In addition,

will not advance, since the forecast is 0%, and

will barely pick up 0.5%.

It is a global slowdown, directly related to the invasion of Ukraine by Russia and when many economies are still limping after the crisis caused by the coronavirus.

Spain is one of the most obvious cases, still unable to reach the level of GDP prior to the pandemic.

Inflation, meanwhile, will continue to hit hard.

At the end of this year, the average figure in Spain will be close to 10%: it

specifically, higher than that of the rest of the European powers.

Next year, on the other hand, Germany and France will present higher CPI data, but even so, the Spanish figure will continue to reach

.

The inflationary episode, therefore, will continue over time and

than the Government or any body had initially warned.

"

. After recovering strongly from the COVID-19 pandemic, a return to a more normal economic situation before Russia's illegal, unjustifiable and unprovoked war of aggression against Ukraine seemed in the offing" , stresses the body chaired by Mathias Cormann.

“The effects of the war and the continuing impacts of the COVID-19 outbreaks in some parts of the world,” he continues, “have

, especially energy and food prices. World GDP stagnated in the second quarter of 2022 and output declined in the G20 economies."

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