Spain’s GDP to contract 9.2pc in 2020, says economy minister | Malay Mail
Friday, 01 May 2020 04:26 PM MYT
MADRID, May 1 — Spain’s gross domestic product will contract 9.2 per cent in 2020, Economy Minister Nadia Calvino said today, as the coronavirus pandemic wrought havoc on the economy.The Bank of Spain expected an “asymmetric V-shape recovery, with the deepest decrease in the second quarter and then a strong and gradual recovery in the second half of the year,” she said during a press conference.
“This is the widest deficit since 2012 when Spain reached 10.7 per cent,” Budget Minister Maria Jesus Montero said during the same press conference.
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