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March 27, 2014

Bank of Spain increases the forecasts of government

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Bank of Spain increases the forecasts of government

National Bank of Spain published official forecasts for the development and growth of the economy for 2014 and 2015 . Thus, the Central Bank predicts economic growth of the country in Spain by 1.2% in 2014 and 1.7% in 2015. At the same time , Spain's deficit , according to the forecasts of the Central Bank , at 5.8 % this year and in 2015 will fall by three-tenths to 5.5%. Such forecasts exceed significantly and improve previously published this year by the Government of Spain, led by Mariano Rajoy. Spanish government forecasts GDP growth in 2014 by 0.7 % and in 2015 – by 1.2 %, although these figures are expected to be raised in the first quarter 2014 .

In his optimistic forecasts experts of Central Bank of Spain based on a registered positive growth in national demand of 0.3% , which was the first time since the onset of the economic crisis , and this trend will continue in 2014, through which also happens in Spain and GDP growth to 1.7 % in 2015. It is expected that domestic demand in Spain will grow to 1%, as well as foreign demand and a rise to 0.8 %, which also has a positive impact on the development of the economic situation in the country.

Regarding the deficit in Spain, then the country's Central Bank predicts that the public administrations will continue to trend in 2013, and will bring their performance to the stated goal – 5.8% for 2014. At the same time for 2015 is expected to reduce the government deficit to 5.5 % of GDP, which is much unlike the goal – 4.2% for 2015. But it is also necessary to consider that the above articles will suffer changes after the Spanish government will be published budgets and their control for public administrations.

In its official bulletin Central Bank of Spain also notes that the forthcoming tax reform , which is currently being developed by the Government of Spain, is a prerequisite for economic growth opportunities in Spain.

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