• +353-1-415-1241(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Country Risk Service Spain 2nd Quarter Product Image

Country Risk Service Spain 2nd Quarter

  • Published: April 2013
  • 17 Pages
  • The Economist Intelligence Unit

The conservative Popular Party (PP), led by Mariano Rajoy, has a large majority in parliament. The economy will remain weak as it undergoes a correction of its imbalances. The Economist Intelligence Unit's central scenario is that Spain will remain in recession in 2013. GDP growth will remain subdued even in the second half of the forecast period, with significant downside risks attached to the forecast. The public finances will continue to post large deficits throughout the forecast period, with the government missing its targets by some distance. The debt/GDP ratio will rise significantly as the government has to shoulder the costs of the bank bail-out. Spain has been forced to access emergency financial support from its euro zone partners to prop up its banking sector. We expect the government to apply for some sort of sovereign bail-out from the euro zone during 2013, although it may have some scope to delay this or even avoid it altogether. A bail-out would probably take the form of an enhanced credit line, aimed at reducing yields for short-term debt but without complete loss of market access.

Pressure is mounting on the government as a result of several corruption cases READ MORE >

Country Risk Service Spain 2nd Quarter

Spain at a glance: 2013-17
OVERVIEW
Key changes from last month
Political outlook
Economic policy outlook
Economic forecast

Risk assessment
Sovereign risk
Currency risk
Banking sector risk
Political risk
Economic structure risk

Rating definitions
Sovereign risk
Currency risk
Banking sector risk
Political risk
Economic structure risk
Overall country risk

Central scenario for 2013-17: Political stability

Central scenario for 2013-17: Election watch

Central scenario for 2013-17: International relations

Central scenario for 2013-17: Policy trends

Central scenario for 2013-17: Fiscal policy

Central scenario for 2013-17: Monetary policy

Central scenario for 2013-17: Economic growth

Central scenario for 2013-17: Inflation

Central scenario for 2013-17: Exchange rates

Central scenario for 2013-17: External sector

Key risk indicators

Ratings summary

Quarterly indicators

International assumptions summary

Economic structure

Public finances

Exchange rates, interest rates and prices

Financial sector

Current account

Foreign payment and liquidity indicators

External trade

Format Properties
Electronic (PDF) The report will be emailed to you. The report is sent in PDF format. This is a single user license, allowing one specific user access to the product.
Note: Product cover images may vary from those shown
More

RELATED PRODUCTS

Our Clients

Our clients' logos