The Bank of Spain predicts sustained economic growth in the next three years
The Bank of Spain has today made public its forecasts for the evolution of the Spanish economy for the coming years. Some forecasts that do not incorporate the budgetary measures approved by the Council of Ministers on December 2. The note issued by the issuing bank indicates that "the expansion phase of the economy will continue over the next three years, supported by monetary stimuli and the progress made in correcting some of the main imbalances in the economy, in particular in the progress recorded in the processes of debt reduction by private agents and the recovery of foreign competitiveness. painting be In any case, the pace of growth would experience a certain slowdown over the next year, due to the evolution of oil prices or the disappearance of the fiscal stimuli that were in force in recent years.Some of the impulses that the economy has received in recent times. In this way, after standing, for the second consecutive year, at 3.2% in , the average GDP growth would moderate to 2.5% , the increase in the product would be at 2.1% and 2%, respectively. Growth will be based on domestic demand, while the contribution of exports will UAE Phone Number List continue to be positive, but to a lesser extent. After an estimated decrease of 0.3% , consumer prices would increase by 1.6% For the next two years, the Bank of Spain predicts an increase in the CPI of 1.5 for 1. 7 for the following year. Regarding employment, the Bank of Spain affirms that the creation of jobs will continue at a good pace to end with an unemployment rate at the end of the period of less than 15%.
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The risks that may influence GDP growth in the regulator's opinion are the uncertainties surrounding global economic policies, especially the US one, which could "end up having a negative impact on the world economy . " Regarding the European Union, the note highlights the uncertainty derived from the upcoming elections called in several member countries and, of course, the effects of Brexit. The Bank of Spain , however, considers that the main uncertainties of the Spanish outlook have dissipated after the formation of the government, which should have a positive effect on the growth of activity. Finally, although it estimates that inflation will continue to decline, it does not rule out a rebound caused by a foreseeable increase in oil prices, following OPEC's agreement to restrict production.
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