In 1936, the year when the Civil War broke out, Spain's economy contracted by 23.5%. To put this in context, the recent World Economic Outlook from the International Monetary Fund predicted an eight per cent fall in GDP in 2020; a third, therefore, of the collapse 84 years ago. While the forecasts for Spain will vary and will be subject to revision, it would seem that the slump will not be getting close to that historic contraction. Moreover, so the forecasters reckon, there will be growth in 2021; the IMF has given a figure of 4.3%.
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The Post-Covid Economy
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