April 20, 2021

The IMF visits Spain on Tuesday to analyze Sánchez's budgets

The IMF visits Spain on Tuesday to analyze Sánchez's budgets


MADRIDUpdated:

An extraordinary delegation of the International Monetary Fund (IMF) will visit our country next Tuesday to monitor the economy and analyze the General Budgets of the State. At the head of the delegation will be Jeffrey Franks, director of the IMF in Europe, who has especially requested to visit our country in the framework of a round of extraordinary visits that the organization has underway. The objective is simply to evaluate the evolution of the economy and analyze in depth the General State Budgets.

As he explained Francisco de la Torre, chairman of the Committee on Budgets, on his departure from the meeting that this committee held this morning, this appointment will be made outside the monitoring process that the agency has in our country in the framework of the so-called Article IV for financial assistance received in the crisis. In addition, according to De la Torre, the lunch date was closed last December but will finally coincide with the parliamentary procedure and Budgets, which starts next Monday.

This visit of the Fund will take place days after the institution that has published its last revision of January in which it reduces in three tenths the growth of the area to 1.6%. The IMF saved Spain from this downward revision, by maintaining 2.2% of its forecasts for GDP growth this year, and 1.9% next year, however, this is one and three tenths less than the Government expects. In addition, the budgets are in the forefront of the experts for their optimism both in their forecasts of collection of taxes and social contributions, which implies risks of non-compliance with the deficit targets.

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