After a setback in the fourth quarter of 2016, the recovery is expected to restart this year. However, the recovery looks set to remain moderate due to the delays in the closure of the second review of the ESM programme. Improving consumer and investor sentiment is expected to be the fundamental driver of growth in the near term. Public finances strongly outperformed the 2016 fiscal target and the outlook remains positive.

Indicators 2015 2016 2017 2018
GDP growth (%, yoy) -0,2 0,0 2,1 2,5
Inflation (%, yoy) -1,1 0,0 1,2 1,1
Unemployment (%) 24,9 23,6 22,8 21,6
Public budget balance (% of GDP) -5,9 0,7 -1,2 0,6
Gross public debt (% of GDP) 177,4 179,0 178,8 174,6
Current account balance (% of GDP) 0,0 -0,5 -0,5 -0,3

Documents

DownloadPDF - 79.7 KB