The Spanish economy has experienced growth of 3.1% in 2024, according to data from the International Monetary Fund (IMF). This growth represents four times the performance of the eurozone, which stood at a modest 0.8%, and even exceeds the growth of the United States, which is estimated at 2.8%.
- Spanish growth above the European average: Spain continues to be one of the best performing advanced economies, with growth projections of 2.3% for this year, which represents an upward revision by the IMF. By 2026, growth is expected to remain at 1.8%.
- Growth differential: In 2024, Spain stood out by quadrupling the growth of the eurozone, with a solid 3.1% compared to 0.8% for the European average. In addition, it surpassed the US, whose expansion stood at 2.8%.
Global Economic Outlook
The IMF has also offered projections for other major global economies.
USA
- Improvement in forecasts: The US has seen an improvement in its growth prospects, with an expansion of 2.7% for this year, half a point above previously forecast. By 2026, growth of 2.1% is expected.
world economy
- Overall growth: Globally, economic growth of 3.3% is expected in both 2025 and 2026. Inflation is projected to decline to 4.2% in 2025 and 3.5% in 2026.
Economic challenges and risks
The IMF has also identified a number of risks that could affect the economic outlook in the short and medium term.
- Divergences between countries: There are risks that could exacerbate divergences between countries, especially related to ongoing political uncertainty and adjustments, such as in the energy sector in Europe and the real estate market in China.
- Protectionist policies: The intensification of protectionist policies could negatively impact growth in the short and medium term, especially through trade tensions and disruptions in supply chains.
- Inflation and fiscal policy: The possibility of inflationary pressures could lead to an increase in interest rates, which in turn could have implications for global fiscal and financial policy.