Executive Summary
Assessment and Recommendations
Chapter 1. Main Policy Challenges
-The Spanish economy has continued to expaand at a rapid pace...
-...But it is more important to correct eh embalances in order to ensure sustainability
-Efforts are still required to maintain sound public finances in a medium- and long-term perspective
-Bolstering productivity is needed to sustain robust long-term growth
-There is considerable room to further strengthen competition
-Efforts to combat climate change must be continued
-Looking ahead at the government's strategy
-Annex 1.A1. Progress in structural reforms
Chapter 2. Returning to More Sustainable Growth
-Recent trends
-Short-term fiscal policy and the overall macroeconomic policy stance
-Short-term prospects
-Structural reforms are needed to reduce the inflation differential and boost the resilience of the economy
-The housing market continues to surge
-Annex 2.A1. The main characteristics of housing policy
Chapter 3. Medium- and Long-Term Fiscal Issues
-Forces acting on the revenue side
-Forces acting on the expenditure side
-How should fiscal policy be managed in the longer-term perspective
-Annex 3.A1. The main features of the 2007 tax reform
Chapter 4. Strengthening Innovation
-Strengthening the effectiveness of innovation policy
-Improving the performance of the education system
-Making the framework conditions more favourable for innovation
-Improving the balances of hte reform strategy so as to strengthen innovation performance
-Annex 4.A1. The organisation and main instruments of  innovation policy
-Annex 4.A2. Evaluating aid for the recruitment of company researchers
-Annex 4.A3. The role of technology centres
Chapter 5. Improving the Functioning of Goods and Services Markets
-A reform of the general framework for competition policy is under way.
-Network industry regulation can be improved
-The distributive trades sector still has to be liberalised
-Reforms are probably needed in several other sectors
-Welcome changes to corporate governance are under way.