Spanish Government Forecasts 9.2% GDP Contraction in 2020
Citizen security officers of the Mossos d’Esquadra police force patrol along a deserted Las Ramblas street usually popular with tourists in Barcelona, Spain. (Photographer: Angel Garcia/Bloomberg)

Spanish Government Forecasts 9.2% GDP Contraction in 2020

(Bloomberg) --

Spain’s government expects the economy to shrink by 9.2% in 2020, due to the impact of the coronavirus outbreak.

Following this year’s contraction, Madrid expects the economy to rebound in 2021, with 6.8% growth, Economy Minister Nadia Calvino said in a press conference, in which she announced the annual economic outlook the government sent Thursday to European Union officials in Brussels.

Spanish Government Forecasts 9.2% GDP Contraction in 2020

The government’s forecast for 2020 is in line with the central scenario presented April 20 by the Bank of Spain in its outlook.

©2020 Bloomberg L.P.

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