The Spanish miracle refers to a period of exceptionally rapid development and growth across all major areas of economic activity in Spain during the latter part of the Francoist regime, 1959 to 1974, in which GDP averaged a 6.5 percent growth rate per year, and was itself part of a much longer period of an above average GDP growth rate from 1951 to 2007. The economic boom came to an end with the 1970s international oil and stagflation crises that disrupted the industrialised world although several scholars have argued that "liabilities accumulated during years of frenzied pursuit of economic development" were in fact to blame for the slow economic growth of the late 1970s.

Francoist Spain, also known as the Francoist dictatorship, was the period of Spanish history between 1936 and 1975, when Francisco Franco ruled Spain after the Spanish Civil War with the title Caudillo. After his death in 1975, Spain transitioned into a democracy. During this time period, Spain was officially known as the Spanish State.