Bank of Spain seen Growth in Spanish Economy

According to the central bank of Spain, robust export could possibly help increase the country’s economy by 0.8 percent quarterly rate over the past three months of 2017 amid the unfavorable consequences brought by the Catalan political crisis.

The Spanish economy is expected to grow by 3.1 percent this year, however, the government has to revise the outlook for 2018 by 2.3 percent versus the initial estimate of 2.6 percent due to risks generated from the already separated regional government of Catalan that urge of its independence last October.

On Wednesday, the central bank further mentioned that buoyant exports generally created for the economic fallout in wealthy Catalonia. The projections and official data are scheduled to be released next month by the National Statistics Institute.

Currently, Spain is one of the fastest-growing economies of the European Union after emerging from the collapse in late 2013.