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2014 could be the first year of economic recovery in Spain

The recuperation of the Spanish housing market will be very tied to the progress of the Spanish economy in upcoming years. The most recent facts from UN (United Nations) predict growth of the economy in 2014 but in 2013 it will continue dropping.

The Spanish economy will acquire 1.4% in 2013 and it will grow 0.8% in 2014, according to the report “Situation and Prospects of the World Economic Situation 2013” put out by economic experts from the United Nations.

The report places the shrinking of the Spanish Gross Domestic Product (PIB) on 1.6% in 2012 and it frames Spain’s situation in “a debt crisis that continues depressing the euro zone.”

“The sovereign debt crisis in the euro zone and the fiscal austerity programs in force continue being the dominant forces that depress the growth in the region,” affirm the authors of the report, who project an average growth of the countries that share the single currency of 0.3% in 2013 and of 1.4% in 2014.

These elements, added to the slowing down of outside demand and high oil prices, “predict some discouraging prospects of the future” for the Eurozone, says the UN, which nevertheless confirms the stabilization of economic activity in the first half of 2012 after the intense fall experienced in 2011.

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