TNBiz (TNBiz)
Macroeconomics  |  July 20, 2012 15:10:11

The Spanish government has improved its forecast of the economy, that this year will fall by 1.5 percent


MADRID (MEDIAFAX) - The Spanish government has improved according to Finance Minister Cristobal Montoro its forecast for the development of its economy this year to decline by 1.5 percent instead of the previously estimated decrease of 1.7 percent. Informed about it on Friday, AFP and Reuters.

The next year, then the Spanish gross domestic product (GDP) fall under the new forecast of 0.5 percent and in 2014 the economy should return to growth again.

"The government expects the economy will grow by 1.2 in 2014 and 1.9 percent in 2015," said Montoro further at a press conference after the cabinet meeting.

Unemployment is predicted by the Spanish Government to take 24.6 percent this year and next year should be reduced slightly to 24.3 percent.

Tomáš Králíček, kralicek@mediafax.cz

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