The truth about how Spain is changing

The coronavirus economic tsunami

Jun 24, 2020, 6:33 pm
Patrons only
Patrons only: A 12% or 15% GDP hit for Spain's economy is three or four times worse than the worst year in the previous economic crisis.

Spain's gross domestic product (GDP) will sink 12.8% in 2020 because of coronavirus, the International Monetary Fund (IMF) has announced today. In the Bank of Spain's worst scenario, it could collapse by 15.1%. In a few months because of the Covid emergency, it will drop three or four times more than during the worst year of the previous economic crisis. The awful forecast is based on "persistent social distancing" through the second half of the year, and has worsened since April.

In 2009 in Spain, GDP "only" fell by 3.8%. The unemploymen...


Guarantee independent journalism

Your support guarantees the future of independent journalism. Every reader counts and it all adds up, whether you choose $5 or $10 or $25 each month. You invest directly in better reporting and more detailed analysis—in English and in Spanish—of the most important stories affecting Spain. The truth about how Spain is changing.
Iberian Adventurer
  • Extra podcast
  • Podcast transcripts
  • 20x30cm trip prints

Spain News Fan
  • WhatsApp list
  • Full resolution images
  • Extra podcast

Supporter Of The Truth
  • Basic level
  • Support the truth
  • WhatsApp list

  • Your : €/month
  • Which country do you pay taxes in?

How does it work?

  1. Click on the you wish to
  2. Make sure your tax country is correct
  3. Enter your email address and credit card details
  4. The server will check your card and do some sums…
  5. Click "Support independent journalism now"
  6. That's it, welcome aboard, you will get a couple of emails


  1. If you would like to a larger , please click here
  2. You can print receipts or invoices for all your in "My Account"
  3. Any problems or questions, email:
Get The Spain Report by email

Get original, detailed, independent reporting and analysis of the stories changing Spain. Full-text articles delivered right to your inbox, in English. You can also choose to get them in Spanish. No ads, no spam. Just readers.

What is The Spain Report?

Independent reporting and analysis of the most important stories changing the country, written by Matthew Bennett, a British journalist who has been living and working in Spain for most of the past 20 years. Read more

Questions, stories, interviews, tips:
WhatsApp/Signal: (0034) 647 81 81 43
Twitter: @matthewbennett

©2020 Matthew Bennett
The Spain Report | In English | En español