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Spain’s acting government has lowered its growth forecasts

Laura | October 16, 2019

Spain’s acting government has lowered its growth forecasts due to domestic and external factors such as trade tensions and raised its deficit estimate.

In a document that is part of draft budget plans submitted to the European Commission, the government said it expects economic output to expand by 2.1% this year, less than a previous forecast of 2.2%.

It sees growth of 1.8% next year, below a previous forecast of 1.9%.

Spain left the budget deficit forecast unchanged from its target of 2% of gross domestic product this year, but raised it to 1.7% of GDP from a previous 1.1% for 2020.

Written by Laura