Brussels cuts GDP growth forecast in Spain to 4% in 2022

The European Commission has cut its economic growth forecast for Spain by 1.6 points for this year to 4% and by one point to 3.4% for the next. Because of the effects of the war in Ukraine and the rise in prices.

Brussels also raises its inflation forecast, which will rise to 6.3% this year, to 1.8% in 2023. sharp rise in prices This is expected for 2022, with a forecast that is almost double the previous one, positioned at 3.6% of expected inflation.

European Commission’s Macroeconomic Estimates are a bit more pessimistic than the government Spanish, which counts for GDP growth of 4.3% this year and 3.5% the next.

Forecast in the Eurozone

Brussels also cut its forecasts for the eurozone economy with a GDP forecast of 2.7% in 2022, Far from the 4% expected just three months ago. War and inflation also affected the rest of the European Union. Inflation rate this year is expected to be 6.8 per cent.

For the fiscal year 2023, Brussels has projected that GDP will be 2.3% In both the euro area and twenty-seven, inflation will moderate to 2.3% and 3.2%, respectively.