Economics Department

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A moderate expansion is underway in most major advanced and emerging economies, but growth remains weak in the euro area, which runs the risk of prolonged stagnation if further steps are not taken to boost demand.
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Structural reforms have helped put Spain on the road to recovery but challenges remain.
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Business dynamism has underpinned inclusive growth in the 2000s. Strong growth without widening external imbalances calls for structural reform in the business sector to boost productivity and allow firms to better compete in export markets and at home.
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