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Economic growth has been strong but is projected to moderate in 2019 and 2020. Even so, the unemployment rate will continue to decline, but remain high. Domestic demand, supported by low interest rates and strong employment growth, will remain the main driver of growth.
A durable reduction in the high public debt-to-GDP-ratio will require further reductions in the structural balance and the government should stick to medium-term fiscal consolidation targets. It will also require maintaining strong economic growth. To boost growth, productivity-enhancing reforms to increase competition and innovation, and to improve skills, will be needed. This would also generate better paid jobs and reduce inequalities.
Source: OECD Economic Outlook 104 database.
Economic Survey of Spain (survey page)