The European Commission improved this Friday its Spanish gross domestic product (GDP) growth forecast of nine tenths for 2024up to 3%, and by four tenths by 2025, up to 2.3%, compared to its estimates last May.
Brussels also maintains its projection that Spain will reduce its public deficit to 3% of GDP this year, respecting the limit set by European budgetary rules, while warning of the “risk” that this projection varies depending on the national public spending necessary to face the impact of dana in the Valencian Community.
“Economic activity in Spain will experience strong growth in 2024, of 3%, before gradually slowing down in 2025, up to 2.3%, and up to 2.1% in 2026″underlines in its autumn macroeconomic forecasts the Community Executive, which has improved its projections for the country in accordance with the revisions already announced by other national and international institutions.
Brussels’ forecasts are more optimistic for this year and next year than those of the Government, which forecasts GDP growth of 2.7% and 2.4%respectively, but slightly lower than the 2.2% that the Executive projects for 2026. And they place Spain as the second fastest growing economy in the Eurozone, behind Croatia.
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