According to the Bank of Spain's forecasts on the impact of the coronavirus (SARS-Cov-2) on the national gross domestic product (GDP), the Spanish economy will experience an outstanding recovery in the mid-term. In the best-case scenario, GDP could grow 8.6 and 4.8 percent in 2021 and 2022, respectively. Hence, the central bank's forecast closely match the one presented by the Government itself in May 2020, when the latter estimated that GDP would grow up to a 6.8 percent in 2021. Despite such remarkable recovery, the impact of the pandemic on the Spanish GDP in 2020 (which fell between 10.7 and 11.6 percent points depending on the scenario) will hinder the country's economy in the years to come.
Forecast of the impact of the coronavirus on GDP in Spain in different scenarios between 2020 and 2023
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Bank of Spain. (December 30, 2020). Forecast of the impact of the coronavirus on GDP in Spain in different scenarios between 2020 and 2023 [Graph]. In Statista. Retrieved June 10, 2024, from https://internal.statista.com/statistics/1167959/covid-19-impact-in-he-gdp-spanish-provided-by-stage/
Bank of Spain. "Forecast of the impact of the coronavirus on GDP in Spain in different scenarios between 2020 and 2023." Chart. December 30, 2020. Statista. Accessed June 10, 2024. https://internal.statista.com/statistics/1167959/covid-19-impact-in-he-gdp-spanish-provided-by-stage/
Bank of Spain. (2020). Forecast of the impact of the coronavirus on GDP in Spain in different scenarios between 2020 and 2023. Statista. Statista Inc.. Accessed: June 10, 2024. https://internal.statista.com/statistics/1167959/covid-19-impact-in-he-gdp-spanish-provided-by-stage/
Bank of Spain. "Forecast of The Impact of The Coronavirus on Gdp in Spain in Different Scenarios between 2020 and 2023." Statista, Statista Inc., 30 Dec 2020, https://internal.statista.com/statistics/1167959/covid-19-impact-in-he-gdp-spanish-provided-by-stage/
Bank of Spain, Forecast of the impact of the coronavirus on GDP in Spain in different scenarios between 2020 and 2023 Statista, https://internal.statista.com/statistics/1167959/covid-19-impact-in-he-gdp-spanish-provided-by-stage/ (last visited June 10, 2024)
Forecast of the impact of the coronavirus on GDP in Spain in different scenarios between 2020 and 2023 [Graph], Bank of Spain, December 30, 2020. [Online]. Available: https://internal.statista.com/statistics/1167959/covid-19-impact-in-he-gdp-spanish-provided-by-stage/