The spanish economy will fall by 13 in 2012

As regards the labour market, the Bank estimated that the unemployment rate will scale up to 24.4% in 2012 and will recover to 24.6% in 2013, despite the slight GDP growth which provides for BBVA for next year.

On the evolution of the deficit, indicates that this year will close at 5.3%, almost a point above the forecast of the Government (4.4%), but expected that in 2013 it meets the official estimate and closing at 3% of GDP. The public debt, for its part, will be 74.4% 72.5% of GDP this year and next.

BBVA believes that the fiscal adjustment measures taken by the Government are “credible”, both on the side of revenues increased by spending cuts.


Posted by on Feb 17 2015. Filed under General. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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