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Spain’s economy is growing

IMF has revised the global growth forecasts. Of the major economies, only the United States and Spain gets their growth forecasts revised upwards.

International_Monetary_Fund_logoSpain is expected to have a growth in 2015 of two percent, while for 2016 the estimated growth in Spain is 1.8%. This is significantly higher than the EU average, which is 1.2% for 2015 and 1.4% in 2016. The worldwide expected growth this year is 3.5% and 3.7% in 2016. This is a downward revision of 0.3% compared with the autumn forecasts.

The US is now the locomotive that pulls up future growth, while China, Russia, Japan and the EURO area are experiencing slower growth. When it comes to Russia, there is no growth at all, as they are expected to reverse in both 2015 and 2016.

THe global growth is admittedly getting a boost from the low oil prices, which are largely due to an increased supply of oil. This however, is countered by a number of negative factors, such as including investment weakness. Stagnation and low inflation are still storm clouds in the euro area and Japan, says the IMF.

Christine Lagarde

Christine Lagarde, head of the IMF (International Monetary Fund). Photo: Wikipedia

Those interested can read further on IMF: World Economic Outlook (WEO) Update. (In English, Spanish or French, as well as some totally “incomprehensible” language).