Brussels warns of a break in winter and leaves growth at 1% in 2023


The European Commission has cut its growth forecast for the Spanish economy next year by almost one point to 1%, from the 2.1% it forecast in the summer. The international context aggravated by the war in Ukraine and the energy crisis will put pressure on the countries of the euro zone, with some of the big economies unable to avoid recession. It will not be the case of Spain which, despite the fact that according to Brussels it could register a 0.3% drop in GDP in the fourth quarter of this year, it would stagnate between January and March of next year (it contemplates 0% growth) , so it would not chain the two consecutive quarters that imply incurring in a technical recession.

In its Autumn Forecasts, Brussels is more optimistic about the behavior of the Spanish economy this year than it was just a few months ago, in July. Thus, it foresees that the GDP will grow by 4.5% this year, compared to the 4% that it estimated in the summer. This implies that Spain will advance above the European Union average (3.3%) and above the euro zone average (3.2%). Subsequently, the economy would slow down next year to that 1%, which also represents a reduction in relation to the perspectives that the Government contemplated in its last macroeconomic table (where it estimated that the activity would advance to 2.1%).

With regard to inflation, the great economic beast against which the European Central Bank (ECB) is fighting and which the respective governments also have to tackle, Brussels projects that the rate will stand at 8.5% this year in Spain (four tenths above what was estimated in the summer), but lowered it to 4.8% in 2023 and 2.3% in 2024.


*The article has been translated based on the content of If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!

For all the latest news click here

Denial of responsibility! HOS is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – at The content will be deleted within 24 hours.

Leave A Reply

Your email address will not be published.