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Global Real Estate InstituteEspaña GRI 2014
Madrid 20-21 May
Keynote speech: “Spain’s Convalescence”
Prof. Pedro Schwartz
B.Ll., Dr. Iuris (Madrid), M.Sc. (Econ), Ph.D. (London)
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Spain’s current account in surplus
• In the full year 2013, the current account recorded a surplus of EUR 7.1 billion (equivalent to 0.7% of GDP), which contrasts the EUR 11.5 billion deficit (equivalent to 1.1% of GDP) tallied in 2012 and marks the first surplus since 1986
• Consensus reckons surplus to be 1.9% of GDP in 2014 • In 2015 surplus could reach 2.2 % of GDP
(Source: Focuseconomics)