The Spanish government lowered its forecast for economic growth for 2018 and 2019


The Spanish government has worsened the forecast for GDP growth from 2.7% to 2.6% in 2018, and from 2.4% to 2.3% in 2019. As the Minister of Economy of Spain Nadia Calvino said, the lower forecast was due to a change in the country's export growth estimate down by 3.6% this year from a 4.3% rise expected earlier, as well as an increase in the unemployment forecast for the current year to 15, 5% from 15%, and to 13.8% from 13% next year. The Spanish Council of Ministers expects the budget deficit in 2019 to be 1.8%. The Spanish government also reported that it had sent a draft budget for 2019 to the European Commission.

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