MADRID Nov 6 The European Commission is
forecasting a 1.5 percent decline in Spanish gross domestic
product in 2013, significantly worse than the 0.5 percent
contraction pencilled in by the Spanish government, El Pais
reported on Tuesday.
Citing a draft of the forecasts which are due to be
officially announced on Wednesday, the newspaper said the
Commission sees the Spanish economy falling by 1.6 percent this
year and growing by 0.5 percent in 2014.
This compares with the Spanish government's forecast for a
1.5 percent fall in GDP in 2012 and growth of 1.2 percent in
The Commission also has more negative forecasts for the
Spanish budget deficit, predicting a deficit of 8 percent of GDP
in 2012, 6 percent in 2013 and 5.8 percent in 2014.
Spain is forecasting a public deficit of 7.3 percent in
2012, 4.5 percent in 2013 and 2.8 percent in 2014.