Spanish economy resilient despite global uncertainty: minister

Barcelona [Spain], January 10: Spain ended 2025 with economic growth of 2.9 percent and is expected to expand by 2.2 percent in 2026, "twice the pace of the eurozone," Minister of Economy Carlos Cuerpo said on Thursday.
In an interview with Spanish National Radio, RNE, Cuerpo said that Spain entered the new year with growth already at around 1 percent. This underscores the resilience of the economy despite global uncertainty marked by geopolitical tensions, tariffs and a slowdown among some European partners, Cuerpo said.
According to economists, Spain is likely to maintain favorable economic prospects in 2026 even as growth moderates from last year's exceptionally strong pace. Montserrat Guillen, professor of economics at the University of Barcelona, told Xinhua on Thursday that recent momentum has continued to support activity and employment, although at a more moderate rate.
Spain's labor market continued to expand in 2025. Official data showed that in December, the average number of people registered with the social security system rose to 21.84 million, around 500,000 more than a year earlier.
Guillen highlighted population growth and the continued rollout of the European Union's Next Generation recovery funds as key factors supporting labor demand. These funds are expected to sustain investment and employment into 2026, she added.
According to the OECD's Economic Outlook on Spain released in December, strong job creation and rising real wages have continued to support private consumption.
However, Guillen cautioned that job quality remains a challenge, noting that much of the employment growth is concentrated in sectors such as tourism where jobs tend to be more seasonal and less stable. Young people and women continue to face difficulties in the labor market, she said.
Source: Xinhua News Agency