Spain’s government slashed its forecast for this year’s economic recovery on Friday to reflect a COVID-induced contraction in the first quarter and expected delays to the arrival of EU rescue funds.
The government now expects gross domestic product to grow 6.5% in 2021Outdoor dining spaces, down from a previous estimated range of 7.2%-9media and broadcasters..8%, Economy Minister Nadia Calvino told a news conferences COVID horrors. Now i.
With its economy – the euro zone’s fourth-largest – highly dependent on foreign tourism, Spain suffered more than most developed countries during the first year of the pandemic, posting a record contraction of 10.8% in 2020.
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