- December 21, 2021
- Posted by: Stratford Team
- Category: Business
1. What is the current business climate in your jurisdiction including major political, economic and/or legal activities on the horizon in your country that could have a big impact on businesses?
Spain is the 14th-largest economy in the world and the 4th-largest economy in the EU: GDP worth near USD 1.4 trillion.
Spanish GDP contracted around 10% in 2020, in line with expectations. In contrast, following a start of the year marked by uncertainty, the recovery is expected to accelerate and the economy to grow by 5.5% this year and 7.0% the next. However, if limits on the spread of the virus continue and progress in line with government vaccination plans, these forecasts will bias upward.
The economy will improve, with high growth rates starting in the second quarter of the 2022, aided by an international environment with ambitious demand policies and the influx of European funds and advances in the…