Executive Summary
Assessment and Recommendations
Chapter 1. Main Challenges, Macroeconomic Developments, and Policies
-Recent developments point to a significant cutback in economic growth over several years
-Fiscal policy has turned expansionary
-The current account deficit largely reflects strong domestic investment
-The banks are overall well placed to handle the downturn in residential construction
-Better matching of workers to jobs can soften the impact of the downturn and raise the contribution of qualified workers to economic performance
-Rising education outcomes could make a bigger contribution to economic performance
-Removing regulatory barriers to competition can raise productivity performance
-Annex 1.A1. Progress in Structural Reforms
Chapter 2. Improving the Matching of Workers to Jobs
-Activating the unemployed
-Reducing the duality of the labour market
-Improving the integration of immigrants
-Introducing an in-work benefit to improve jobs prospects for the unskilled and reduce poverty
-Lowering the impediments to the geographical mobility of workers in housing policy
-Reforming the collective bargaining process
Chapter 3. Raising Education Outcomes
-Education outcomes
-Comprehensive compulsory education in private and public schools helps limit the impact of socio-economic background on learning outcomes
-Combating school failure in compulsory education
-Raising learning outcomes in primary and secondary education
-Framework conditions for the teaching profession need to be improved
-Places in childcare are still scarce for those families that need them the most
-Financial support to families with children above the compulsory schooling age could be improved
-Further reform of the regulatory framework of tertiary education could raise earning prospects
-The attractiveness of vocational education can be raised
-Annex 3.A1. Basic elements of the Spanish educational system
Chapter 4. Fostering Competition in Product Markets to Boost Productivity
-There is considerable room to strengthen the sectoral regulators
-The regulatory framework of the electricity market has been significantly improved
-Competition has increased in the market for natural gas
-Additional efforts to reduce greenhouse gas emissions are needed
-The telecommunications market has become more open to competition
-Rail and road freight transport should be opened fully to competition
-The postal market has been opened up to competition
-Savings banks should be more exposed to market mechanisms
-Existing restrictions to retail trade should be dismantled
-The regulation of professional services should be revised