Spain trims 2021 GDP forecast

Published: 21:50, Apr 09,2021

 
 

The Spanish government lowered its growth forecast for 2021 on Friday after fresh pandemic restrictions led to a weakerthan-expected first quarter.

It now expects the Spanish economy, the eurozone’s fourth largest, to grow by 6.5 per cent this year, down from the 7.2 per cent forecast in October.

‘The recovery ... slowed in the first quarter and was lower than what we expected,’ economy minister Nadia Calvino told a news conference.

‘We expect growth to speed up in the second half of 2021,’ she added.

Spain’s economy contracted sharply by 10.8 per cent in 2020, one of the worst performers in the eurozone, with its key tourism sector battered by the pandemic travel restrictions.

— AFP

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