4/9, 12:26 PM (Source: TeleTrader)
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Spain cuts 2021 GDP growth forecast to 6.5%

Spain's Finance Minister Nadia Calvino has revised down the growth of the country's gross domestic product in 2021 from 7.2% to 6.5% in her presentation on the macroeconomic scenario in Spain on Friday.

“It is a prudent forecast, closely aligned with the forecasts of the main national and international analysts such as the IMF or the independent fiscal responsibility authority (AIReF) and adapted to the events that have taken produced in the last six months and to the information available at this time," the minister said at a press conference.

Calvino has noted that Spain will recover the GDP levels prior to the pandemic towards the end of 2022. Sustained growth is also expected, reaching a potential growth rate of around 2% in 2024 thanks to the measures contemplated in the recovery plan.

Breaking the News / IV