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Spanish government to downgrade growth forecasts: PM
2022-04-19 00:00:00.0     星报-世界     原网页

       

       MADRID, April 18 (Xinhua) -- Spanish government would lower its predictions for economic growth in 2022 from the 7 percent rise in the gross domestic product (GDP) that was previously expected, Prime Minister Pedro Sanchez said on Monday.

       The conflict in Ukraine had affected expectations for the economy, Sanchez told local TV network Antenna 3, insisting growth would still be "robust."

       The conflict in Ukraine "is having an impact on the Spanish and European economy," and there will be a downward revision in Spain, Europe and the world, he said.

       "That does not mean that we are not going to grow," he added.

       The prime minister highlighted that over 20 million people in Spain are currently affiliated to the country's social security system. However, he admitted there were "threats and risks," to the economy, such as the effect of the Ukraine conflict on inflation.

       The rate of inflation in Spain stood at 9.8 percent in March, according to the country's statistical office.

       With regard to rising energy costs, Sanchez said that Spain and Portugal are currently in talks with the European Union to try to separate gas and electricity prices, which will have an important effect on lowering costs for both businesses and households.

       Sanchez also ruled out generalized tax cuts to alleviate the effect of rising prices.

       "It's not credible... We are making tax cuts linked to specific policies," he said.

       


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关键词: rising     Ukraine     economy     Spanish government     country's     Sanchez     inflation     Spain     conflict