OECD Economic Surveys
SPAIN 2025
Executive summary November 2025
• Growth has been steady and resilient amid rising global risks • Growth will moderate but remain robust • Securing fiscal sustainability is key amidst long-term spending pressures • Higher productivity growth requires strengthening the performance of small and medium-sized enterprises • Harnessing the potential of older workers and migrants would help with the ageing challenge • Spain needs to strengthen climate resilience, advance decarbonisation, and continue addressing energy security