The Government will raise its forecast for GDP growth this year to 4.4%, but will cut that for 2023 to 2.1%

MADRID, 3 Oct. (EUROPA PRESS) -

The Government plans to raise its economic growth forecast for this year from 4.3% to 4.4%, but will cut its estimates for the Gross Domestic Product (GDP) for 2023 by six tenths, to 2.1%, according to The First Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calviño, advanced in an interview with 'Bloomberg News' collected by Europa Press.

"We see strong activity and job creation, also in tax revenues, so everything indicates that the Spanish economy, up to September, continues to grow quite strongly", highlighted the Government's economic officer.

With PSOE and United We Can negotiate 'in extremis' the last fringes of the General State Budgets for 2023, Calviño has revealed "key" details about the macroeconomic picture that will accompany the new public accounts for next year.

At the end of July, the Government maintained its growth forecast for the Spanish economy at 4.3% for this year, but it has already cut its estimate for 2023 by eight tenths, to 2.7%, in a context of high uncertainty due to the impact of the war in Ukraine and the rise in prices, especially energy prices.

Most national and international organizations are revising their forecasts for Spain for 2023 downwards and place growth at around 2%. In fact, in a context of uncertainty such as the current one, the latest forecasts from Consensus Forecasts, corresponding to the month of September, project growth in Spain of 4.3% for 2022, stable compared to the month of June, and 1.6 % in 2023 (vs. 3% expected in June).