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IMF: Spanish Economy to Outgrow the Economic Projections for 2017

IMF-Spanish-Economy-to-Outgrow-the-Economic-Projections-for-2017.jpgTraditionally speaking, Spain is a great location for starting a company. Businessmen who want to invest in Spain may benefit from the advantages of the local economy, which is set to increase in 2017 to a higher level higher that the original estimates. According to the data provided by the International Monetary Fund (IMF), the Spanish economy will increase in 2017 by minimum 3,1%, a much higher rate than the inital projection of the institution (2,6%). Our team of lawyers in Spain can offer further assistance on the investment legislation available for foreign businessmen. 

 

Pillars of the Spanish economic growth

 
The Spanish economy entered its fourth consecutive year of economic growth. The main drivers which have contributed to the current economic growth are the following:
 
consumption;
exports
 
In order to set up a company in the import-export field, foreign businessmen will need to obtain special documents that are necessary for this business activity, which can be detailed by our team of Spanish lawyers
 
IMF also added that the local economy might grow in 2017 to an even higher rate, as a direct consequence of the reforms implemented by the Spanish authorities on matters such as: 
 
banking
employment
 
The employment level in Spain increased in the first months of 2017. However, it is important to know that the highest employment rate was observed for part-time contracts
 

IMF study on the Spanish economy

 
The data on the Spanish economy provided by the IMF was presented in the “Predictions for the world economy” report. The study also offers details on other economies; at a European level, the IMF stipulates that Spain will register the highest economic growth estimated for the following year, which will reach 2.4%. 
 
IMF recommends to Spanish authorities to establish new regulations for the local pension funds, as well as to increase the retiring age, as a consequence of an ageing population, a situation that has also been observed in other European countries. 
 
Those who need further assistance on this subject are invited to contact our law firm in Spain
 

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