(AGENPARL) - Roma, 19 Gennaio 2023 - (AGENPARL) – gio 19 gennaio 2023 [IMF Country Reports](http://www.imf.org/external/pubs/cat/scr1_sp.aspx?s_year=1997&e_year=2012&brtype=default)
[Open in your browser](http://www.imf.org/en/Publications/CR/Issues/2023/01/19/Spain-2022-Article-IV-Consultation-Press-Release-Staff-Report-and-Statement-by-the-528338?cid=em-COM-123-45979)
http://www.imf.org/en/Publications/CR/Issues/2023/01/19/Spain-2022-Article-IV-Consultation-Press-Release-Staff-Report-and-Statement-by-the-528338?cid=em-COM-123-45979
[Country Report No. 2023/033 : Spain: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain](http://www.imf.org/en/Publications/CR/Issues/2023/01/19/Spain-2022-Article-IV-Consultation-Press-Release-Staff-Report-and-Statement-by-the-528338?cid=em-COM-123-45979)
JANUARY 19, 2023
http://www.imf.org/en/Publications/CR/Issues/2023/01/19/Spain-2022-Article-IV-Consultation-Press-Release-Staff-Report-and-Statement-by-the-528338?cid=em-COM-123-45979
Two years after the pandemic, the Spanish economy is facing new headwinds from Russia’s invasion of Ukraine. Activity has been resilient so far, supported by a strong rebound in tourism and other services and timely policy support measures. However, elevated global energy and food prices, lower trading partners’ demand, deteriorating consumer and business confidence, and rising interest rates have slowed the recovery of output. Growth is projected to moderate to 1.1 percent in 2023. Risks to the outlook include tighter-than-expected financial conditions, weaker global demand, and further increases in European energy prices.
[READ MORE](http://www.imf.org/en/Publications/CR/Issues/2023/01/19/Spain-2022-Article-IV-Consultation-Press-Release-Staff-Report-and-Statement-by-the-528338?cid=em-COM-123-45979)
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