The Government welcomes the OECD forecasts: "We will be one of the developed countries that grows the most in 2023"

MADRID, 7 Jun.

The Government welcomes the OECD forecasts: "We will be one of the developed countries that grows the most in 2023"


The Government has celebrated that the Organization for Economic Cooperation and Development (OECD) has revised upwards this Wednesday its growth forecast for the Spanish economy in 2023 to 2.1%, confirming that Spain will be "one of the developed countries fastest growing this year.

The Organization estimates in its new projections that Spain will grow more than double that of the euro area (0.9%) and half a point more than the OECD as a whole (1.4%), "showing the dynamism and strength of the Spanish economy ", as highlighted by the Ministry of Economic Affairs.

The new projections, contained in its 'Economic Outlook' report, indicate that Spanish GDP will grow by 2.1% this year, significantly below the 5.5% registered in 2022, but four tenths above the OECD forecast. for Spain published last March, while facing 2024, the organization has raised its forecast by two tenths and now expects the Spanish economy to grow by 1.9%.

Thus, the OECD forecast is the same as that of the Spanish Government, which maintained growth for this year at 2.1% in the stability plan sent to Brussels, but not that of 2024, since the Executive of Pedro Sánchez estimates a rise in GDP of 2.4%, above the 1.9% estimated by the OECD.

Regarding the evolution of prices, the organization is confident that the general harmonized inflation rate will moderate this year to 3.9% from 8.3% last year, which is three tenths less than what was forecast last year. month of March.

"Inflation falling this year to below 4%, two points less than the average for the euro zone, which favors the competitiveness of Spanish companies", have stressed from the Department headed by Nadia Calviño.

In this way, the general inflation rate in Spain this year would remain well below the average for the Eurozone, estimated at 5.8%, although by 2024 the OECD forecasts that the rise in prices among the Twenty will be less intense than in Spain, with an average rate of 3.2%.

However, the OECD is somewhat less optimistic regarding the evolution of core inflation, which excludes the impact of energy and food, since it expects a moderation to 4.8% this year, compared to the 5% estimated in March, while for 2024 it maintains its expectation at 3.7%.

Finally, from Economic Affairs they have valued that the OECD highlights in its report that the real disposable income of households increased in Spain 2021 and 2022, maintaining one of the most positive evolutions in the European Union.