The Economic Crisis in Spain
Spain is one of the powerful state with an expanssion economy in EU from 1995. His GDP was growing year by year without any problem , but in 2007 the economy of Spain start to fall down, because of a collapse in Housing Market, that can lead to a recession or a slowdown.
The economical boom of spain started in 1995. The construction of buildings brought Spain the biggest increase in economy in EU , in the last 10 years .The main ressource of Spain’s GDP was the Housin Market that consisted about 5%-15% of Real GDP every year. The oproximately rate of growth of GDP for the last 4 years was about 3%-4% per year, but the economists assume that for 2008 the growth rate will be about 1%, that is meaning that there is a slowdown, and if the gouvernment will don’t care about it , this decreasing can lead to a recession.
Spain’s Real GDP 2003-2007
2003(a) 2004(a) 2005(a) 2006(a) 2007(b)
GDP at market prices (€bn) 783 841 908 981 1054
GDP (US$ bn) 885.4 1045.7 1130.8 1231.7 1434.3
Real GDP growth (%) 3.1 3.3 3.6 3.9 3.3
Consumer price inflation ( ...