By Euro Weekly News Media • 23 January 2019 • 19:20
Good News: Calviño announces promising jobs news
SPANISH Gross Domestic Product (GDP) is predicted to grow by 2.2 per cent this year, 0.1 per cent less than initially predicted according to the country’s Economy Minister.
Nadia Calviño said the revision was due to the government being forced to aim for a faster cutting of Spain’s government spending deficit.
“If we had stuck to our deficit reduction target we would have revised the prediction for GDP upward,” Calviño said.
The government is now aiming to cut the deficit to 1.3 per cent of GDP after previously aiming for 1.8 per cent.
The change came after the conservative Partido Popular (PP), which has an outright majority in the Spanish Senate, threatened to block the budget if deficit reduction targets were relaxed.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our
Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
Your email address will not be published. Required fields are marked *
Download our media pack in either English or Spanish.