Spanish News

Spain predicts economy to bounce back

todayJuly 29, 2021 6

Background
share close

Return to pre-pandemic levels in 2022

THE Spanish government believes economic growth will bounce back to pre-pandemic levels after a record fall of 11% in 2020 due to the Covid-19 crisis.

It predicts the biggest period of expansion of all advanced nations based on the pace of recovery following the end of health restrictions and its vaccination programme.

The cabinet believes gross domestic product – GDP – will grow 6.5% this year and 7% in 2022.

“In 2022, Spain will recover its pre-pandemic activity and, in 2023, it will return to the path of growth we had before the health crisis,” said Economy Minister Nadia Calviño.

It would make the Spain the advanced economy that will expand the most in 2022 after suffering the biggest setback last year. Output fell by a record 10.8%, the biggest fall since the Spanish Civil War.

The International Monetary Fund is a little less optimistic. The IMF said in its World Economic Outlook report that the Spanish economy would grow 6.2% in 2022 and 5.8% in 2022.

Written by: BayRadio News

Rate it

Ctra. Cabo La Nao, CC La Nao, Local 6 03730 Javea, Alicante, Spain

Phone: (+34) 965 796 761
E-mail:
Website: www.bayradio.fm
Advertise with us

Do you have a business in Spain? Do you provide a service to the expat community in Spain? Would you like your message to reach over 500.000 people on a weekly basis? 

BayRadio is a community orientated radio station offering fantastic content to our many listeners and followers across our various platforms. Contact us now and find out what Bay can do for you!

Our business is helping your business grow.

Playing now

Kal In The Afternoon

featuring various guests
Sign up to newsletter

By submitting your email you agree to BayRadio T&Cs 

0%