In a modest office in Madrid, a senior analyst spread a chart showing Spain’s GDP trajectory since 2013. The graph highlighted a steady rise that began after the eurozone crisis, a trend the current government has often cited as evidence of its success.
Since Pedro Sánchez took office in 2018, Spain’s economy has added more than 11% in real terms, outpacing the European average, according to official statistics. However, a comparison of two five‑year periods reveals a different picture. From 2013 to 2018, under Prime Minister Mariano Rajoy, the economy grew at an average annual rate of 2.2%, while the Sánchez administration recorded a 1.7% annual increase between 2018 and 2025.
The employment data compiled by the Employment and Productivity Survey (EPA) mirrors the growth gap. Rajoy’s years saw an average annual gain of 470,000 jobs, compared with 430,000 under Sánchez.
Opposition parties have seized on the figures, arguing that growth without broader wellbeing does not constitute genuine progress. The Sánchez government, meanwhile, points to the higher overall cumulative growth and its alignment with EU recovery funds as evidence of effective policy.
Economists caution that short‑term averages can mask structural changes and external shocks. They suggest that future assessments will depend on how Spain translates growth into higher wages, reduced inequality, and sustainable development.