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Spanish economy to continue to grow at good pace

Staff Writer | November 9, 2018
Spanish economy will continue to grow at a "good pace", Spanish Minister of Economy and Business Nadia Calvino said on Thursday.
Nadia Calvino
Europe   Minister of Economy and Business Nadia Calvino
Local media reported that Calvino made this statement at an event in Madrid regarding the new economic forecasts published by the European Commission (EC).

The EC revised down its growth forecasts for Spain by 0.2 percentage point for 2018 and for 2019.

The economy will grow by 2.6 percent this year and by 2.2 percent in 2019 according to the new forecasts, while the public deficit would be at 2.1 percent of GDP next year, above the target of the government and the one agreed with the European Union (EU).

Calvino said that these forecasts were "quite in line" with those considered by the government and confirmed that Spain would continue to grow at a "good pace".

"The forecasts published by Brussels are quite in line with ours and confirm that we will continue to grow at a good pace, above neighboring countries and above the average of the euro zone and the EU," she explained.

According to Calvino the new forecasts represent a positive assessment of the evolution of the Spanish economy: "Spain continues to stand out as one of the most dynamic economies and with a more positive outlook for growth," she said.

Regarding the deficit, she explained that "it is a provisional forecast and we will have to see how it evolves in the coming weeks and months".