OECD Lifts Spain's 2026 Growth Forecast to 2.2% as Hormuz Crisis Threatens Other Economies
Updated
Updated · Diari ARA · Jun 3
OECD Lifts Spain's 2026 Growth Forecast to 2.2% as Hormuz Crisis Threatens Other Economies
1 articles · Updated · Diari ARA · Jun 3
Summary
Spain's 2026 growth forecast was raised by 0.1 point to 2.2%, making it the only economy in the OECD update to receive an upgrade despite the Middle East conflict.
The OECD said Spain's exposure to the Strait of Hormuz disruption is limited, with no planned 2026 natural-gas imports through the route, while domestic demand and a strong labor market should keep growth robust.
Spain would still outpace major euro-zone peers in 2026, with the OECD projecting 0.7% growth for Germany and France and 0.5% for Italy; Spain's 2027 forecast was left unchanged at 1.7%.
Inflation remains the weak spot: the OECD now sees Spanish inflation at 3.3% this year as higher energy prices bite, though government energy-tax measures have helped cushion the impact.
In its harsher scenario, the OECD warned a prolonged Hormuz blockade could cut global growth to 2.1% in 2026 and 1.8% in 2027, pushing some vulnerable economies toward recession.