The Bank of Spain has increased its growth forecast for 2026 to 2.3%. This adjustment is due to a rise from the economic acceleration in the fourth quarter, a reduction from the impact of the war in Iran, and an increase thanks to the Government’s response plan. Had it not been for the crisis resulting from the conflict in the Middle East, the estimate would have risen to 2.4%. In contrast, considering the war, but without implementing a plan to mitigate its impacts, the figure would have dropped to 2%, according to the macroeconomic projections updated by the Bank of Spain. Economic growth will continue to depend on internal demand, which contributes to the 2.3% increase, while external demand will decline. In the coming quarters, employment will continue to grow, with an increase of 2.2% in 2026. Productivity per worker will remain low, and the unemployment rate will decrease, reaching 9.9% this year.
The Bank of Spain raises its growth forecast to 2.3% due to the war plan and skyrockets inflation to 3%.
