According to the latest estimates from the International Monetary Fund (IMF) released this week in Bangkok, Spain is the only major Eurozone economy that has lost productivity since 2018. Its calculation is that Spain will have lost one-tenth of a percentage point in the 2018–2027 period, which coincides with Pedro Sánchez’s term in government. Productivity is the key indicator for increasing a country’s GDP per capita, raising wages without losing competitiveness, and—equally crucial—ensuring the sustainability of the pension system. It is striking that Spain shows a decline after being allocated more than €100 billion in European funds since 2021, theoretically earmarked to transform the national economy and boost its productivity.
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