Spain. Law & Practice

During 2021, Spain’s GDP grew by 5.1%, which did not compensate for 2020’s 10.8% decrease. In 2022, the expectation is that the economy will grow around 4.2%, significantly less than what was first expected (7%), but a good sign none¬theless given the three major issues faced dur¬ing the first half of 2022: the war in Ukraine, the energy crisis and the effect of ramping inflation of interest rates. However, Spain will not recover its pre-COVID-19 GDP until 2023.

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