SEFO Spanish and International Economic & Financial Outlook SEFO SPANISH AND INTERNATIONAL ECONOMIC & FINANCIAL OUTLOOK VOLUME 8 | number 3, May 2019 WHAT MATTERS Economic forecasts for Spain: Spain’s economic 2019-2021 prospects under the new Deconstructing Spain’s net borrowing/lending position by administration institutional sectors Spain’s fiscal consolidation: Situation and outlook Spanish public debt holdings at the end of the ECB’s purchase programme Interest rates and bank margins under protracted, Orders or claims: exceptional monetary policy VOLUME Funcas Caballero de Gracia, 28 28013 Madrid (España) Downsizing, productivity and Teléfono: 91 596 54 81 2019 May 3, 8 | number efficiency in the Spanish Fax: 91 596 57 96 ISSN: 2254 - 3880
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