Luis M Linde: Bank of Spain's 2016 Annual Report

Testimony by Mr Luis M Linde, Governor of the Bank of Spain, before the Parliamentary Committee on Economic Affairs and Competitiveness, Madrid, 20 June 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 on the occasion of the presentation of the Banco de España Annual Report for 2016. 

I would like to begin by reviewing the most notable features of the current Spanish economic upswing, which began almost four years ago. I will then go on to describe the more immediate prospects for the Spanish economy, with reference to the Macroeconomic Projections Report published by the Bank on 13 June, and I will mention the main risks surrounding this outlook. Finally, I intend to address the main challenges for Spanish economic policy over a longer time horizon and to conclude with a brief reference to the challenges for the European project.