Spain. The Lending and Secured Finance Review
The Spanish economy, like any other, has been exposed to significant challenges during 2022 and the first quarter of 2023 due to, among other things, pressure on energy prices, persistent inflation, strains on supply chains, the continuous rise in interest rates and, generally, increasing uncertainty. However, the overall impact of all these factors on Spain’s growth outlook has not been as strong as previously anticipated. The Spanish economy grew at a rate of 5.5 per cent during 2022, mostly as a consequence of a very positive first half of the year. During the second half of the year, however, and in line with global markets, GDP growth slowed down significantly as financial conditions worsened and capital markets closed.