Immigrant population contributed approximately 1.7 percentage points to the average annual growth of Spanish GDP (3.7%) and 0.5 points to the average annual growth of GDP per capita between 2022 and 2025, according to Pilar Cuadrado Salinas, a specialist in quantitative analysis and economic information management at the Bank of Spain, who highlighted that Spain is currently the country that contributes most to the demographic growth of the European Union thanks to immigration.

TheFènix Report, prepared by several renowned economists, has opened the debate on whether the Catalan economy is doing well or not. The study has caused controversy due to criticism of some productive sectors such as tourism and the meat industry, which it considers to be indirectly "subsidized", and for criticism of economic growth based on immigration rather than increased productivity of companies and workers.

The outbreak of war in Iran and the consequent increase in prices, particularly energy prices, led the government of Pedro Sánchez to approve a package of measures to alleviate the economic effects on companies and citizens. Four months after the start of the conflict, inflation has decreased, but not enough to withdraw all measures. Thus, the Spanish executive has decided to keep some of them active for three more months. That is, until September 30. Once approved in the Council of Ministers, they must be validated by Congress.

Economic optimism despite the war in Iran. The Spanish government updated the macroeconomic framework this Monday and forecasts that the economy will grow by 2.6% in 2026 (four tenths more than previously predicted) and by more than 2% in the next three years, i.e., until 2029, as detailed in a press conference by the First Deputy Prime Minister and Minister of Economy, Carlos Cuerpo, after a cabinet meeting where a new package of measures was precisely approved to mitigate the economic impact of the conflict, especially in energy matters.

The Airef, the independent body that controls public finances, warns that the debt write-off for autonomous communities will be "flawed" if not accompanied by a reform of the regional financing system. The president of Airef, Inés Olóndriz, has argued that "the logical course of action" would be: first, "realistic objectives", second, the reform of the financing system, and third, "measures to alleviate debt".

The Spanish economy held its ground in the first quarter of this year, despite the negative impact caused by the outbreak of the war in Iran and the consequences on energy markets and international trade. Household spending allowed the gross domestic product (GDP, the indicator that measures the size of an economy) of the State to maintain the good figures of the last three years, according to the National Statistics Institute (INE) reported this Thursday.

The Catalan economy maintained growth figures above the European average in the first quarter of this year, mainly thanks to the consumption of foreign tourists and the strength of the services sector. The outbreak of the war in Iran, therefore, did not have a significant initial impact on the country's economic activity.

The Spanish economy will maintain a "robust" growth rate despite the conflict in the Middle East and international uncertainty, according to the Organisation for Economic Co-operation and Development (OECD, the institution that groups the world's advanced economies). The economic body has revised its growth forecast for Spain in 2026 upwards by one tenth, to 2.2%, in line with the estimate maintained by the Spanish government.

A harsh report on the state of the Catalan economy, prepared by several economists, criticizes the country's productive structure because several business sectors end up being, de facto, "highly subsidized" by the rest of the economic fabric. This current model has represented an "impoverishment" of Catalan society and a continuous loss of productivity of the business fabric compared to Europe in the last 25 years. "The country is bleeding out," summarized the report's coordinator, executive and engineer Xavier Roig.

Despite the growth driven by the Spanish economy in terms of GDP and employment, poverty does not disappear. 8% of the population is in a situation of "extreme poverty or exclusion" – meaning they have an income below 8,147 euros per year per consumption unit – and 19.5% are "at risk of poverty", being part of a consumption unit with an income below 12,220 euros per year.

The positive momentum of the Catalan economy will offset the geopolitical uncertainty caused by the war in Iran and the trade tensions over tariffs from the President of the United States, Donald Trump. According to the latest macroeconomic scenario for Catalonia, published this Monday by the Department of Economy and Finance of the Generalitat, Catalan gross domestic product (GDP, the indicator that measures the size of an economy) will grow by 2.3% in 2026, in line with the forecasts for the Spanish economy and above the main economies of the euro area. Similarly, the Govern expects around 100,000 jobs to be created over the next two years and for the employment rate to fall to 8.3% in 2027.

The conflict in the Middle East has not gone unnoticed in the update of the Bank of Spain's macroeconomic forecasts, despite the short timeframe between the outbreak of the war and the preparation of a new report. The supervisory body acknowledges that the attack by the United States and Israel on Iran and the ramifications in the region will have an impact on the growth of the Spanish economy, but above all on the evolution of prices. In fact, if the conflict becomes entrenched, the average inflation rate for 2026 could soar to 5.9% due to disruptions in the global energy market. However, the body chaired by former socialist minister José Luis Escrivá estimates that the package of fiscal measures from the Spanish government, which was validated by Congress this Thursday, will help to "cushion" the economic shock of a war that, for now, does not seem to have an end.validated by Congress will help to "cushion" the economic shock of a war that, for now, does not seem to have an end.In general terms, the Bank of Spain (BdE) forecasts that gross domestic product (GDP, the indicator used to measure the size of an economy) will grow by 2.3% in 2026, as indicated in the report published this Friday. This may seem contradictory because it represents a slight improvement compared to the December forecasts, i.e., the pre-war forecasts, when the entity forecasted that the Spanish economy would grow by 2.2% in 2026.

"The conflict in the Middle East will test the resilience of the global economy." No beating around the bush. The new report from the Organisation for Economic Co-operation and Development (OECD) revises its growth forecasts taking into account the impact of the war initiated in Iran.

The Catalan economy ended 2025 with annual growth of 2.7%, one-tenth of a percentage point lower than the Spanish average, according to data published this Friday by Idescat, the Catalan government's statistical agency. Economic growth, clearly higher than the European average for another year, was driven primarily by business investment and household spending.

The arrival of foreign workers has not only meant a boost for the Spanish and Catalan economies In recent years, the trend has shifted from a lack of immigrants to simply "easier" to enter more productive and better-paying jobs. The former are thus filling the positions that workers of origin do not want. This is confirmed by the research and analysis center Funcas in its report.Immigration in Spain: challenges, impact and policies Published this Thursday, the report estimates that foreign workers have contributed 47% to the growth of the Spanish economy since 2022. This means that almost half of the increase in gross domestic product (GDP, the indicator that measures the size of an economy) over the last five years can be attributed to the arrival of migrants. Funcas highlights that the foreign population residing in Spain has risen from marginal figures to become "an unavoidable structural component of Spanish demographics and the labor market." This is illustrated by the active population, which includes those who are working or actively seeking employment: since 2019, it has grown by 7.8%, equivalent to approximately 1.8 million new workers, almost all of whom are of foreign origin. "This is a supply shock unparalleled by the major European economies, which has boosted Spain's productive potential." Furthermore, "the sectoral and occupational bias of the foreign workforce has allowed for the growth of activities that were facing labor shortages," the study concludes.

The Spanish economy accelerated its growth rate during the last three months of 2025, nearly doubling the expected growth rate for the eurozone, according to preliminary data released Friday by the National Statistics Institute (INE). This placed Spain among the leading growth countries in the European Union for another quarter. Meanwhile, the cost of living for families moderated in January after three consecutive months of price increases.

The US economy continues to grow at a strong pace. US gross domestic product (GDP, the indicator that measures economic activity) grew by 1.1% in the third quarter of 2025 compared to the previous three months, according to the second estimate published by the Bureau of Economic Analysis of the US Department of Commerce. Meanwhile, Germany, Europe's largest economy, confirmed its return to growth, closing the last three months of last year with quarterly growth of 0.2%. In annualized figures, US GDP growth was 4.4%, six-tenths of a percentage point higher and the best figure in two years. This also represents a significant improvement over the 0.6% decline observed at the beginning of 2025, when US GDP fell for the first time since early 2022. The increase in real GDP in the third quarter reflected increases in consumer spending and exports. Imports, which are subtracted from GDP calculations, decreased. Compared to the second quarter, household spending accelerated, and investment, exports, and government spending rebounded, while imports declined less in the third quarter than in the second.

The International Monetary Fund (IMF) on Monday raised its economic growth forecasts for 2026 for the global economy, the eurozone, the United States, China, and Spain. The organization noted that "headwinds [to growth] stemming from changing trade policies are offset by tailwinds linked to increased investment in technology, including artificial intelligence (AI), more so in North America and Asia than in other regions," according to its report.

The German economy, the largest in Europe, left behind the recession in 2025 and recovered growth after two consecutive years of declining economic activity.

Analysts at the Bank of Spain are heading into their Christmas break with a positive outlook regarding the country's economic growth. In line with other international organizations, and also with the Spanish government, the supervisory body forecasts that the Spanish economy will grow more than previously expected in 2025 (2.9%), as well as in 2026 and 2027. And they expect it to grow strongly. Thus, for next year, they estimate a rebound in gross domestic product (GDP, the indicator used to measure the size of an economy) of 2.2%, while in 2027 they project 1.9%, as detailed in the macroeconomic projections published this Tuesday. This represents an upward revision of four and two tenths of a percentage point, respectively, compared to the projections from last September.