Scope to improve Spanish 2021 growth forecast, hints central bank governor By Reuters
MADRID (Reuters) – The governor of the Bank of Spain hinted that there is some scope to improve the forecast for gross domestic product this year from the current figure of 6.2%, in an interview published on Sunday.
Expect the Bank of Spain to revise its forecasts on economic growth next week.
Pablo Hernandez de Cos is the Governor of the Bank of Spain. He said that there may be an “certain margin” for improving current growth projections for 2021.
El Diario Vasco reported that data from the second quarter was “a bit better than our baseline scenario.”
“In addition, last week the European Central Bank increased its projections of the euro zone. Although uncertainty remains high, it’s still lower than the level a year ago.
Hernandez de Cos indicated that recent COVID-19 outbreaks have not had a significant impact on the economy.
Spain’s central banking said last June that it anticipated gross domestic product growth between 4.6% and 6.8% after the 10.8% record slump. The central scenario pointed to 6.2% growth in comparison to 6% in its March forecast.
The central bank also increased its projections for next year to 5.8% from 5.3% and 2023 to 1.8% from 1.7%.
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