These perspectives come from the British think tank Council for Economic and Business Research (CEBR), which recently published new long-term forecasts. According to CEBR, the United Kingdom's GDP is on track to consolidate itself as the sixth largest economy in the world.
The British economy is moving closer to the German economy, increasing its advantage over France, and should deliver the best performance among major European economies over the next 15 years.
are perspectives Think tank British Center for Economics and Business Research (CEBR), which recently released new long-term forecasts. According to CEBR, the United Kingdom's GDP is expected to grow by 1.6% to 1.8% until 2038, contributing to its position as the sixth largest economy in the world.
China is expected to be the world's leading power by 2038 think tank, followed by the US and India.
The World Economic League table, which analyzes the evolution of GDP in different world economies in the short, medium and long term, ranks Japan in fourth place, Germany in fifth place and the UK in sixth place. In the year under review, last in the CEBR project, France fell one place to seventh, followed by Brazil, South Korea, Canada, Indonesia, Italy, Australia, Russia, Mexico and Spain, with economies closely followed by Turkey.
According to these projections, the Indonesian economy will surpass the Spanish economy, moving to 16th place in the CEBR index. So the Spanish economy will drop out of the group of fifteen largest countries in the world.
Demographically, UN estimates indicate that Indonesia's population will increase by more than 320 million by 2050, “El Economista” recalls. For Turkey, projections point to a growth of more than 95 million by 2050. In the case of Spain, the opposite is true. According to the UN, the Spanish population will soon begin to decline, falling to less than 40 million people by 2075.
“The number in isolation is a bit of a plot, but if we analyze it deeply (in retrospect), we can see the drama the Spanish economy has been experiencing since the beginning of the financial crisis in 2007. For more than two decades, losses were concentrated in less productive, non-tradable/non-exportable sectors (in the bubble years, large resources were allocated to housing construction) and were not used to implement a change in the real growth model”, says “El Economista” in an article related to the publication of the list, highlighting that “the positive aspect is that the Spanish economy is now a little more competitive and manages to grow without creating imbalances”.
The period 2004-2007 was one of Spain's golden years, when it became the eighth largest economy in the world. However, Spain's growth in the past two decades has been practically non-existent, the Spanish publication recalled, citing the financial crisis, sovereign debt and the recession triggered by Covid-19.
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