The Bank of Spain Warns that the Economy will Contract by Between 6.6% and 13.6%

20 April 2020 – Brainsre.news

The Bank of Spain forecasts a decrease in the growth of the Spanish economy that is unprecedented in recent history, with a decline that has already reached 9%.

The Bank of Spain forecasts a decrease in the growth of the Spanish economy that is unprecedented in recent history, with a decline that has already reached 9%. In a document published on Monday, the body calculates that activity in Spain registered a quarterly decrease of 4.7% between January and March.

For the year as a whole, the Bank of Spain has established three scenarios. Two of them are based on the lockdown lasting eight weeks – at the moment, the Government has proposed a third extension, which is pending approval, until 9 May – and the third where the State of Emergency goes on for three months.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake

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