The EU has put Spain's deficit forecast for 2019 higher than previously expected (Image: GETTY)
In its spring biannual forecasts, the EU said it is confident the national dynamics will sustain the European economy, despite global uncertainty. The report published by the European Commission forecasts the economy to expand for the seventh year in a row in 2019. Brussels hopes that with the help of the European Central Bank’s “accommodative” credit policy, growth can be boosted in 2020.
The Commission, which is due to receive a new president in place of Jean-Claude Juncker this year, put Spain’s deficit forecasts greater than its own predictions and those of the Spanish Government, but maintained the growth forecasts.
Spain’s GDP growth projections of 2.1 percent for this year were maintained by the EU, while the government expects a 2.2 percent increase.
And in 2020 Brussels expects Spain’s GDP to grow by 1.9 percent, against the 2.6 per cent registered in 2018, with which the economy will continue to grow faster than the average Eurozone member.
The report said: “Growth is expected to ease slightly throughout 2019 and then stabilise as the
