Our GDP growth forecast for Spain is unchanged at 2.6% this month. We've maintained our strong outlook even though we assume that the US will impose tariffs on the EU over the coming months, as Spain stands to be one of the least affected countries. Spain will remain one of the fastest-growing economies in the Eurozone this year, with activity being boosted by a strong tourism sector and increasingly by consumer spending. Further ahead, we now expect Spain will accelerate its transition towards reaching 2% of GDP in defence spending over the coming years.
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