The end of the Spanish miracle

The end of the Spanish miracle

Between 2014 and 2018, Spain experienced a second economic miracle: GDP grew by +2.8% on average p.a., exports grew by +4.2% on average p.a. and 2.6mn Spaniards were brought back to work. The 2010 and 2012 competitiveness reforms help explain this outperformance but the share of workers’ wages in national wealth dropped from 54.7% in 2010 to 51.8% in 2017.

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