SPA - Spain Business Brief - Tuesday September 20 2011

Spain Business Brief - Tuesday September 20 2011

The International Monetary Fund has reduced their forecast for the growth of Spain for 2012 by half a point. The latest forecast from the body led by Christine Lagarde is for growth for Spain of 0.8% in this year and down from 1.6% to 1.1% for 2012. The forecast comes in their latest report on World Economic Growth published today, Tuesday.
Both the 2011 and 2012 numbers for Spain are below the forecasts of the Government which has them at 1.3% and 2.3%.
The IMF also considers that there will be more unemployment than that forecast by the Government, with 20.7% at the end of this year and 19.7% at the end of next year.
It says that ‘Spain has still to identify new measures to reach its fiscal objectives in the medium term’
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