Strong government support to businesses and households has helped Spain weather the effects of the COVID-19 pandemic, and of rising energy and food prices brought by Russia’s war of aggression against Ukraine. Policy should now focus on rebuilding fiscal space, raising productivity and reducing social disparities, including by creating more opportunities for young people.
Since the OECD Anti-Bribery Convention entered into force over 20 years ago, Spain has successfully convicted only two individuals in one foreign bribery case, and has not convicted a single company. Spain continues to close cases prematurely.
Spain’s economy is on the road to recovery, but the shock from COVID-19 has underlined the urgency of addressing long-standing structural challenges. While support continues to flow to the hardest-hit firms and households, investment and reforms should focus on driving productivity growth and the creation of high-quality jobs, according to a new OECD report.
Spain has created a strong system to combat money laundering and terrorist financing, but improvements are needed in certain key areas, according to a new report by the Financial Action Task Force.
The Spanish government announced on Friday, 29 January, its intention of postponing the retirement age from 65 to 67 and to increase the number of contribution years used to calculate pension benefits. The OECD believes that these measures are important steps in the right direction and would bring Spain closer in line with other OECD countries who have already reformed their pension systems.
El gobierno español anunció el viernes pasado su intención de elevar la edad oficial de jubilación de 65 a 67 años, y de aumentar el numero de años necesario para calcular la pensión. La OCDE considera muy positivas dichas medidas.