Tuesday 25 September 2018

Spain's economy expected to grow strongly despite Catalan crisis

Spain's economy is set to expand by 3.1% in 2017
Spain's economy is set to expand by 3.1% in 2017

Strong exports are likely to help Spain's economy grow by a quarterly rate of 0.8% in the last three months of the year despite the negative effects of the Catalan political crisis, the central bank said.

Spain's economy is set to expand by 3.1% in 2017, but the government revised its estimate for 2018 from 2.6% to 2.3% because of uncertainty created by the since-ousted Catalan regional government's push for independence in October.

The central bank said buoyant exports overall made up for the economic fallout in prosperous Catalonia.

Its figures are estimates and official data will be published by the National Statistics Institute next month.

Spain emerged from recession in late 2013 and is now one of the European Union's fastest-growing economies.

AP

Press Association

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