Post by account_disabled on Feb 25, 2024 0:34:53 GMT -5
The Spanish economy began 2023 with a cut in growth forecasts by the International Monetary Fund (IMF). However, last week the Bank of Spain published its 2022 Annual Report and showed that the national GDP was increasing more than the European average, on the verge of recovering pre-pandemic levels . The European Commission accounts agree. Brussels now estimates that the Spanish economy will grow by 1.9% in 2023 thanks to the positive effect of the previous year, which is being "stronger than expected" — which will allow Spain to return to its pre-pandemic GDP between the second and third quarters. of the year, according to their estimates. This figure is 5 tenths above the forecast made just 3 months ago, 1.1% of what is expected in the eurozone and 1% for the European Union as a whole. Although for both areas the forecasts are 2 tenths higher in each case.
In this scenario, the Spanish economy is ahead of the main ones in the eurozone . Brussels expects an increase of 0.1% in GDP in Germany, 0.7% in France and 1.2% in Italy. This would leave Spain only behind Greece in this group, which would grow by Romania (3.2%), Portugal In Spain, economic activity, which is still recovering from the fall of the pandemic, is expected to slow down this year as in other EU countries. But the expansion rate of 1.9% in 2023 remains Country Email List very above the EU average, thanks to the implementation of the Recovery and Resilience Plan and a very solid labor market," the Commission highlighted. As far as 2024 is concerned, Spain would continue to grow at the 2% that was announced in the autumn and winter projections. Although, in this scenario, it would be behind Greece (5%), Malta (4.1%) and Romania (3.5%), according to data shared by the Commission.
Visual Challenge: You'll have good luck in your relationships if you find the word 'love' in this word challenge For inflation it also made corrections , 4 tenths below what it predicted in February. This means that the Commission expects it to be around 4% in 2023 . In the EU as a whole, the indicator is expected to go from In 2024, however, it will not go as well as expected . The projection has gone from estimating Of course, the data is still below the expected average for the euro zone and the EU, which will be 5.8% and 6.7%. Where there is still no convergence is in the estimates of the deficit of the Spanish economy. The Government expects it to be reduced to 3.9%. But the Commission is more timid with its optimism and remains at 4.1%. However, the figure is 2 tenths lower than the previous forecast.