Economic activity accelerated in the first half of this year, underpinned by private consumption and exports. Growth is set to remain robust but ease going forward, driven by a slowdown in private consumption. The unemployment rate is projected to continue declining. Thanks to the positive macroeconomic outlook and continued expenditure restraint, the general government deficit and debt ratios are forecast to continue declining.

Indicators 2016 2017 2018 2019
GDP growth (%, yoy) 3,3 3,1 2,5 2,1
Inflation (%, yoy) -0,3 2,0 1,4 1,5
Unemployment (%) 19,6 17,4 15,6 14,3
Public budget balance (% of GDP) -4,5 -3,1 -2,4 -1,7
Gross public debt (% of GDP) 99,0 98,4 96,9 95,5
Current account balance (% of GDP) 1,9 1,7 1,9 1,9

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