Luis M Linde: The current macroeconomic setting and outlook for the Spanish economy

Testimony by Mr Luis M Linde, Governor of the Bank of Spain, before the Spanish Parliamentary Budget Committee in relation to the draft State Budget for 2017, Madrid, 25 April 2017.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Ladies and gentlemen,

I appear before this Committee at the start of the discussion and approval of the State Budget for 2017, the draft legislation for which, was approved by the Government on 31 March. 

Let me begin by referring to the international setting and the outlook for the Spanish economy, after which I will move on to the core aspects of the draft Budget and conclude with some reflections on the relationship between fiscal policy and our economic recovery.