The IMF raises Spain's growth in 2022 beyond 5% but warns of a sharp slowdown in 2023

Spain grew more than 5% in 2022

.

It is almost a fact, since all the organizations are revising their estimates of the advance of the GDP above that data.

The last one was the International Monetary Fund (IMF), which on Wednesday updated its forecasts for the Spanish economy.

According to this document, last year the Gross Domestic Product (GDP) of Spain grew by

, which represents a significant upward revision of six tenths.

The Fund highlights the "resilience" that the Spanish economy has shown despite the "headwinds" that have caused Russia's invasion of Ukraine.

The organism emphasizes the good behavior of tourism and also of employment, as basic pieces.

And to this we must add the review that the National Statistics Institute (INE) made of the National Accounts, which has unleashed a wave of significant upward revisions.

But this year the slowdown will be very noticeable, with the economy growing just

, which is one tenth less than the previous IMF estimate.

This slowdown, explains the Fund, "reflects the effects of high energy and food prices, tighter financial conditions and weaker external demand."

With these figures, the body led by Kristalina Georgieva estimates that Spain will still take another year to return to pre-pandemic GDP levels.

", says the IMF report on the Spanish economy.

According to the criteria of The Trust Project

Know more

• Crisis