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Spain’s central bank revises 2015 growth forecast higher

by ChemOrbis Editorial Team -
  • 27/03/2015 (11:47)
According to media reports, the Bank of Spain revised its economic growth forecast upward for 2015 to 2.8% from 2%. The bank stated that the country’s economic perspective has improved recently in line with stronger employment, a lower public deficit and stronger growth prospects for the wider eurozone.

According to the country’s central bank, Spain’s domestic demand and exports will increase in 2015 and 2016, which is expected to boost the economy. The bank also expects employment to increase by 2.7% this year and by 2.6% in 2016, which will strength private households’ purchasing power.

The bank reported that the country’s gross domestic product (GDP) increased 0.8% on the quarter in the three months ending March while on a yearly basis Spain’s GDP expanded by 2.5% in the first quarter of this year. Meanwhile, the bank expects the country’s economy to grow by 2.7% in 2016.
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