The Spanish economy continues to retreat. According to monthly data from the Bank of Spain, forecasts for the first quarter of 2013 indicate a further decline in GDP, which in the last quarter of 2012 has already fallen by 1,4% on an annual basis. The data was the same as that released by INE, the Iberian statistical institute, and which the Central Bank therefore confirmed. Meanwhile, Prime Minister Mariano Rajoy announced this morning that the deficit/GDP ratio was 6,7% in 2012.
Spain: in 2013 the economy continues to contract and the deficit/GDP ratio is 6,7%
According to monthly data from the Bank of Spain, forecasts for the first quarter of 2013 indicate a further decline in GDP, which in the last quarter of 2012 has already fallen by 1,4% on an annual basis.
FIRSTonline editorial team
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