The Spanish economy is expected to expand 6.5% this year ahead of the payment of the EU recovery fund compared to the previous projection of 7.2% growth, the country’s economy minister, Nadia Calvino, said at a press conference on Friday.
Key Comments:
“The economy should expand by 7% in 2022, and production will recover to pre-pandemic levels by the end of that year. “
“The first quarter growth is lower than expected due to the third wave covid and the storm Filomena “.
“GDP could return to pre-pandemic levels by the end of 2022“.
“The growth rate of GDP should exceed 2% in 2024 thanks to the investment and reform program“.
“The unemployment rate for 2021 will be around 15% versus the previous forecast of 16.9% ”.
“Growth is expected to accelerate in the second half of 2021.”
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