Spanish Economy Minister estimates GDP expanded in Q4 despite coronavirus restrictions

"Economic growth will be more intense in Spain than in the majority of the big European countries in 2021," she added. The Spanish government expects a record 11.2% economic contraction in 2020 and a rebound of at least 7.2% in 2021. The Bank of Spain, however, sees a small contraction in the fourth quarter the likeliest scenario, following a rebound in the third quarter.

Reuters | Updated: 07-01-2021 14:56 IST | Created: 07-01-2021 14:31 IST
Spanish Economy Minister estimates GDP expanded in Q4 despite coronavirus restrictions
Representative image Image Credit: ANI

Spain's gross domestic product likely expanded in the fourth quarter of last year despite business restrictions imposed to curb the second wave of coronavirus contagion, Economy Minister Nadia Calvino said on Thursday.

"Everything indicates that the positive trend continued in the fourth quarter despite the strength of the (coronavirus) second wave that hit all of Europe," Calvino said in an interview with radio station COPE. "Economic growth will be more intense in Spain than in the majority of the big European countries in 2021," she added.

The Spanish government expects a record 11.2% economic contraction in 2020 and a rebound of at least 7.2% in 2021. The Bank of Spain, however, sees a small contraction in the fourth quarter the likeliest scenario, following a rebound in the third quarter.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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