Credit Suisse estimates that the Spanish economy will grow by 0.8% in 2023


The Spanish economy will grow by 0.8% in the next yearthe largest increase in real GDP in a large economy in the European Union (EU)according to the latest Investment Outlook report from Credit Suisse, which also forecast a drop of 4.4 points percentages for inflation in Spain.

The data contrasts with the forecasts of the Swiss bank for the Eurozone, which according to Credit Suisse would enter a recession from this quarter and would end 2023 with a drop in GDP of 0.2%. Of the main EU economies (Germany, France, Italy and Spain), only France and Spain would experience real GDP growth in the coming year, 0.2% and 0.8% respectively, according to forecasts by the Zurich-based bank.

Regarding inflation, Credit Suisse predicts that with the aforementioned decrease of 4.4 points in 2023, the Spanish rate would be reduced from 9% in 2022 to 4.6% next year. With this data, inflation would fall faster in Spain than in the entire euro zone and than in the rest of the large economies in the region.

Among the problems cited in the report for the Eurozone, the problems in the energy supply and the “structural and political risks of the peripheral countries” stand out, among which Spain and Italy are mentioned specifically.


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