It is said that the Spanish economy will be cut by 9.2 percent

It is said that the Spanish economy will be cut by 9.2 percent

  The Spanish government estimates that the economy will shrink by 9.2% this year as a result of the coronavirus epidemic accompanying the economic crisis. The Spanish government spokesman and also Minister of Finance, Maria Jesus Montero, and Deputy Prime Minister and Economy Minister Nadia Calvino met and held a press conference. The main topic of the meeting was the effects of the coronavirus outbreak on the country's economy, but the government's budget planning was also included in the press conference. Nadia Calvino, who also served as Deputy Prime Minister, said that they are talking about estimates, not precise data, as it is not clear what the crisis environment will bring. Calvino said that they anticipate a decrease of 9.2 percent in the country's economy in 2020, and that they think unemployment will increase by about 19 percent. Stability Plan Sent to US Spanish government officials sent the Stabilization Plan they prepared to the US on 30 April. Some fall estimates shared in the Stability Plan were included. According to the table; It is predicted that the investment will decrease by 25.5% in 2020 due to 10.34% public deficit and 115.5% public debt. In addition, the rate of exports is 27.1%; a 31% drop in imports is expected. It is predicted that GDP will decrease by 10.1%, private consumption by 8.8% and employment by 9.7%. The government shared that this crisis is the biggest crisis Spain has ever experienced. The Spanish government, which is having a hard time, expects its economy to grow by 6.8% next year. On the other hand, the government warned that this crisis caused by the coronavirus outbreak will not experience a rapid recovery in 2021.