Spain is only European country not to recover pre-pandemic GDP

Credit: Pixabay

Spain is the only country in the European Union not to have recovered its pre-pandemic gross domestic product (GDP).
Most of the member states of the European Union have recovered the GDP that they had in 2019, before the pandemic and the resulting economic crisis struck.
Spain’s GDP rose by 5 per cent in 2021. The figure was 1.1 per cent below expectations and has led the credibility of the Sánchez government, which was aiming for almost 9 per cent growth, to be questioned.
Spain’s GDP has grown, for the most part, since 1971, when it first began to be measured consistently. 2020 put an end to this slow but steady growth.
Germany’s GDP at the end of 2021 saw an increase of 2.8 per cent. In 2020, the year in which the impact of the pandemic was strongest, the country’s GDP had fallen by 4.6 per cent compared to 2019. Its GDP from 2021 already exceeded that of 2019 by 1.2 per cent.
The Spanish government’s excessive optimism has been met by the harsh reality, as the GDP data from the other European economies has been released. Spain is behind Italy, the economy that has grown the least, but which has improved its 2019 figure by 1 per cent.
________________________________________________________________________
Thank you for taking the time to read this article, do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.

FacebookTwitterRedditWhatsAppTelegramLinkedInEmailCopy Link
Go Back
Written by

Tamsin Brown

Originally from London, Tamsin is based in Malaga and is a local reporter for the Euro Weekly News covering Spanish and international news. Got a news story you want to share? Then get in touch at [email protected]

Comments


    Leave a comment

    Your email address will not be published.