Introduction
In this article, we will explore the productivity situation in Spain and its comparison with other OECD countries. We will analyze the factors that have contributed to this situation and the implications it has for the Spanish economy.
Productivity in Spain
According to a Cepyme report, Spain is lagging behind in terms of productivity compared to other OECD countries. During the period 2018-2023, productivity in Spain has experienced a drop of 3.8%, while in developed countries it has increased by an average of 4.6%. This places Spain at productivity levels similar to those of 2009.
This lack of improvement in productivity has had a significant impact on small and medium-sized businesses, whose performance has stagnated at levels similar to those of 2015. In addition, a decrease has been observed in the number of self-employed and private employees, which indicates a loss of employment and economic activity
Factors contributing to the situation
Various factors have contributed to the current productivity situation in Spain. Among them are the tax and regulatory burdens that have increased in recent years, which has made business operations difficult and has negatively affected investment and company profits.
Furthermore, the Cepyme report highlights the lack of economic criteria in the recent increases in the Minimum Interprofessional Wage (SMI), which have increased by 54% since 2018. This rapid rise in the SMI has negatively affected productivity and has prevented the creation of employment, especially in small businesses
Conclusions
In summary, Spain is lagging behind in terms of productivity compared to other OECD countries. The lack of improvement in productivity has affected small and medium-sized businesses, and declines in employment and economic activity have been observed. Factors such as fiscal and regulatory burdens, as well as rapid increases in the SMI, have contributed to this situation. It is necessary to take measures to boost productivity and promote a favorable environment for companies in Spain
