Despite difficult circumstances and the complex international context, Spain was able to reach economic and development levels, exceeding the average compared to the rest of the European Union.
Economists interpret this with a group of factors, the most important of which is the decline in high interest rates for the European Central Bank, the drop in inflation levels, as well as the high level of confidence of citizens in their political and economic institutions and high levels of savings.
Spain achieves high growth rates
Spain receives the new year planned as one of the solid and developed economies on a global scale, and this is confirmed by figures and data. The Spanish central bank determined the growth rate of the gross internal product for the year 2025 by 2.5%، It is more than three tenths of the growth rate expected for the mother of the United StatesY.Rakia; According to data from the International Monetary Fund.
This increases Spain to the degree of the main competitor of the latter. In addition, this percentage exceeds 1.8%And this is a percentage previously confirmed by Ms. Crystalina Gorgieva, Director General of the International Monetary Fund, as average growth in the total of Western countries.
This, and the Iberian State is found in economically advanced places, compared to the rest of the countries of the Euro group, although it occupies late positions in productive capacities at the European Union countries.
French and German economies, which are historically the most powerful European economies, decreases considerably due to the clear impact of war in Ukraine and high inflation rates.
Berlin, who suffers from the instability of the government, after the government was overthrown by controlling control and calling for early elections on February 23 of the year 2025, its economy is known under the name of establishment in recent months, and the expectations of the German Federal Bank, Bandan Bank, indicate a growth rate of 0.2, and expectations of the German Federal Bank, Bandan a growth rate of 0.2% For the year 2025.
As for France, known in 2024, four presidents of the government, which is preparing to introduce the country into a real political crisis that the fifth republic, which is threatened with disruption of the principles and foundations on which it was founded, indicates the expectations of its economic growth at 0.8 to 0.8%In a clear impact of suffocating tax procedures on budgetary balances, according to European Commission reports.
The Spanish economy is the most developed economy at the European Union levels, whether in 2023 or 2024. In the last three months of 2024, the Spanish internal product has experienced an average growth rate of the European Union’s average growth. In 2025, Spain should go in the same ascending direction.
This, and the International Monetary Fund and the European Commission estimates that the growth rate in Spain exceeds the percentage of European growth from one point against 1.3% ، For the rest of the European group.
There are other institutions that increase the difference between the two parties to more than 1.3%. According to insurance from the Spanish central bank.
In the same context, it can be said that internal consumption plays an essential role in economic activity, as confirmed by Mr. Jose Luis Iskaeva, leader of the Spanish central bank, as well as high income levels, operating rates in different sectors of economic activity and the high level of citizens’ confidence under the conditions of their economic and political environment.
The economic company, Kaysha Bank, Spanish, confirms that it has decreased interest rates for the European Central Bank, responsible for coordinating financial policies in European Union countries, the drop in inflation levels, high savings capacities and high minimum income from the high consumption index; These are all factors that have led to high levels of consumption and the recovery of purchasing power that was affected by the previous crises that Spain has known in the context of the economic crisis linked to the Kofid pandemic.
Currency and challenges
But these optimistic numbers hide behind a group of variables, which can question the capacity of the Spanish economy to resist and maintain its “macroeconomic” balance in the coming months.
This may require intervention in order to maintain the increasing rate of gross internal product. When the latter suffers, a problem linked to its productive capacities associated with investment; In other words, there is a clear deficit on the level of investment returns.
This indicates the delay in return to previous productive levels. This prompted the International Monetary Fund to invite Spain to make structural reforms that allow Spanish companies to increase growth levels, investment rates outside of Spanish borders and in real value added areas for the Spanish economy.
This also explains, the implacable prosecution of Spain of the support of European funds, although the question requires the efforts of combined European Union countries; That is to say that we are faced with a company that is difficult for European countries to reach individually.
The Spanish bank also indicates that external demand is decreasing, which would affect growth levels during the year 2025, because it played a fundamental role in the dynamism of growth in previous years, in particular in the year 2023.
We expect this decline to continue after the arrival of President Donald Trump at the reign of the mother of the United StatesY.Rakia, who should impose a hard customs policy on imports from the old continent, in the light of a complex geopolitical context, whose characteristics of the war in Ukraine and global disorders in the world know it; In particular, the Middle East.
In addition to the state of government and political instability of the strongest European economies, that is to say France and Germany-which define high levels of inflation. This will inevitably reflect the Spanish economy, according to the conclusions of the department of Spanish central banks.
It can be noted that the year 2025 is the most influential year of the Spanish economy by the European funds on which the Spanish government bets, despite the political tensions between the right and the extreme right on the one hand, and the left on the other previous years in this context.
The Menkloua Palace is also planned that, between January and December in December this year, 368,000 jobs will be created; Due to the development of economic activity resulting from European financial support.
It is also provided that European financial funds will contribute to 1.3 points in the internal product of Spanish crude, according to data from the Spanish Ministry of the Economy.
It ended in 2024, and we entered the new year 2025, without the government being able to obtain the necessary votes to adopt the financial law for the year 2025; This is due to the unpopular political polarization that Spain has known in recent years between the right and the left.
This has led to the extension of the work of the financial law for the past year, that is to say in the year 2024, which is also considered to be an extension of the financial law of 2023, after it was not possible to ratify the financial law because of the known regional elections in the Catalonia region.
All this prompted the Spanish cabinet to agree on the decree of the law on December 23 to adopt a group of legal requirements with an adult social impact on the Spanish citizen.
This is a constitutional possibility offered by the Spanish Constitution, known as the 1978 democratic transformation constitution, in the event of disruption of the approval of the financial law.
But this law decree was abandoned in the Spanish cortis on Wednesday January 22, 2025, due to the right -wing coalition (People’s Party and Catalan Catalan), and to the extremist right of the Fox Party within the Cortis.
It is good that the decree was preparing to increase the salary of retirees by 2.8% From January 1 of 2025 and support the investment and financial capacities of regional and local governments, in addition to obtaining more European support for the Spanish economy; Especially in the slit linked to fragile groups and the victims of the valence floods which recently hit the country.
This, while increasing the percentage of banks, high -income owners and smoking companies, and reducing the tax on small and medium -sized enterprises which are the beating heart of the Spanish economy.
The most difficult question remains: can the Spanish economy overcome all these obstacles in order to gain bets of the future in the shadow of an international volatile economy, and it is difficult to control its articulations and predict its fate?
The opinions of the article do not necessarily reflect the editorial position of Al-Jazeera.