European Commission negative forecast for Spanish GDP

As the majority of analysts as well as the Spanish Government forecasts that the drop in Gross Domestic Product (GDP) for 2020 will be between 11.1 and 11.5 per cent, the European Commission has taken a much gloomier view of the health of the Spanish Economy.

It has now revised its autumn forecast by 1.5 per cent to suggest that because of the ongoing Covid-19 pandemic and increasing confinement that it could be as high as 12.4 per cent.

A return to high unemployment is an additional factor in helping it make this decision.

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Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page


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