Spain to revise down 2022 GDP target, PM says

Spain will revise down its economic growth target for 2022, Prime Minister Pedro Sanchez said on Monday in a TV interview.

Spain will revise its economic growth target for 2022, Prime Minister Pedro Sanchez said on Monday in a TV interview. The government is set to update its bullish 7% growth projection for 2022 later this month to take into account the impact of inflation stoked by Russia's invasion of Ukraine.

"There will be a downward revision of growth figures in Spain, Europe, and the world, it is a fact, but that does not mean that Spain will not continue growing and creating jobs," Sanchez told Antena3 TV station. The Bank of Spain expects the gross domestic product to expand by 4.5% in 2022.