What are the reasons for the economic decline of Spain at the end of the 16th and 17th centuries?

The main reasons for the economic decline of Spain in this period of time include the following reasons:
1) A significant reduction in the population of the country (due to hunger, various epidemics and wars);
2) A sharp increase in the tax burden, which fell on ordinary citizens;
3) Overpriced food products, as well as their shortage;
4) Spending a lot of money by the state on the maintenance of the army.