Spain cuts 2012, 2013 growth forecasts: ministry

28th May 2010, Comments 0 comments

The Spanish government has cut its 2012 and 2013 economic growth forecasts by 0.2 percentage points to 2.5 percent and 2.9 percent, the economy ministry said on Friday.

"We have reviewed the figures given in the stability and convergence document," Economy Minister Elena Salgado said after a cabinet meeting, referring to the government's policy to put the public finances in order.

These new forecasts "appear consistent to us, coming within ranges provided by Spanish private sector analysts," Salgado said.

The government also increased its 2010 unemployment forecast to 19.4 percent from the previous 19 percent, putting the next three years at 18.9 percent, 17.5 percent and 16.2 percent.

© 2010 AFP

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