74114
Spain 2018 Growth Forecast at Risk
Spain 2018 Growth Forecast at Risk

Spain 2018 Growth Forecast at Risk

Spain 2018 Growth Forecast at Risk

The Spanish economy could grow less than initially expected in 2018 due to uncertainty over Catalonia, Deputy Prime Minister Soraya Sainz de Santamaria said on Friday.
The wealthy region’s intention to break away after a referendum has plunged Spain into its worst political crisis since an attempted military coup in 1981, Reuters reported.
“The events that we are experiencing in Catalonia make us more prudent,” Sainz de Santamaria said after the weekly cabinet meeting.
“In fact, if there were no quick solution to this issue we should be forced to lower expectations of economic growth for the year 2018,” she said. The government expects Spain’s economy to grow 2.6% in 2018.
The deputy prime minister also said that hotel reservations in Catalonia were currently falling 20% to 30%.
She said: “The events that we are experiencing in Catalonia make us more prudent. She insisted: “The Generalitat is creating all the conditions to plunge Catalonia into a deep recession, as experts have warned.”
The warning follows an unofficial referendum on the region’s independence which went ahead despite a government attempt to ban it. The wealthy region’s intention to break away after a referendum has plunged Spain into its worst political crisis.
Catalan leader Carles Puigdemont has come under pressure from one of his key allies to declare full independence and ignore a threat of direct rule from the Spanish government.
Spain’s Prime Minister Mariano Rajoy has given him until Monday to clarify his position—and then until Thursday to change his mind if he insists on a split—threatening to suspend Catalonia’s autonomy if he chooses independence.
Today’s dramatic financial warning came amid reports Spaniards were boycotting Catalan products, with sales of some dropping by up to 70%.

Short URL : https://goo.gl/CGxg3j
  1. https://goo.gl/u8R9bJ
  • https://goo.gl/5xwBKz
  • https://goo.gl/myBVAs
  • https://goo.gl/kD1djU
  • https://goo.gl/Tn4HBX

You can also read ...

Bithumb Hacked, $32m in Cryptocurrency Stolen
Cryptocurrencies dropped after the second South Korean...
South Africa GDP Shrinks
South African gross domestic product shrank 2.2% in the first...
Saudi Arabia, which employs about two-thirds of its citizens, is chipping away at a budget deficit that ballooned to almost 16% of GDP after the oil shock of 2014, while FDI slumped more than 80% last year.
Show up, swipe in. The routine is familiar to office workers...
Washington in March imposed tariffs of 25% on steel and 10% on aluminum, in a move mainly aimed at curbing imports from China.
Russia said on Tuesday it would impose import duties on US...
Australian Telecom Co. to Axe 8,000 Jobs
Australia’s dominant telecommunications company Telstra...
Taxes in Italy Drive Economy Underground
Italy grew rapidly over the 20th century, and its black market...
South Korea to Grow 3 Percent
The Organization for Economic Cooperation and Development has...
World Shares Snap Five-Day Losing Streak
World stocks steadied near three-week lows on Wednesday and...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus