The IMF raises its growth forecast in 2019 to 2.3%

• Spain is the only one of the great economies of the euro zone to which the International Monetary Fund raises its growth forecast for this year

• The increase of two tenths in the IMF estimate allows Spain to continue leading the growth among the main countries of the eurozone

• This upward revision is in addition to that carried out by the European Commission and the Bank of Spain in recent weeks

The International Monetary Fund (IMF) today published the update of its growth forecasts for the world economy, with an upward revision of two tenths of growth in Spain in 2019 compared to the spring forecasts published in April. The IMF expects a GDP growth of our country of 2.3% in 2019 and 1.9% in 2020.

The IMF raises its growth estimate for the advanced economies by one tenth, to 1.9% of GDP, and keeps the forecast for the euro zone at 1.3%. Spain is the only one of the great economies of the eurozone whose growth has been revised upwards due to the dynamism, especially of investments, recorded in the first part of the year. The increase of two tenths in the estimation of GDP growth allows Spain to lead the growth among the main economies of the euro zone.

This review is especially significant in an international context in which, as the IMF points out, global economic activity has slowed and risks continue to decline.

The new IMF estimate certifies the strength of the Spanish economy and is in line with those made in recent weeks by the European Commission and the Bank of Spain that increased their forecasts of up to 2.3% and 2.4% respectively GDP growth of our country in 2019.