The Spanish Economy Minister Luis de Guindos, warned yesterday at the G20 meeting in the Australian city of Cairns, that the Spanish economy is not immune to the slowdown in the eurozone, which they feel has had a impact on both trade flows and expectations. “The Spanish economy is not completely immune to what happens in Europe,” De Guindos said following a two-day meeting of finance ministers and governors of central banks of the G20, in preparation for the summit of leaders in November Brisbane city.
At this meeting of Cairns, the goal of global economic growth of 2% to 1.8% over the forecast was lowered to 2018, following the sale of economic growth forecasts for this and next year, especially in the euro area and Japan.
In a press conference at the end of the meeting, De Guindos said that the G20 discussed how generic over the eurozone, without specifically mentioning the alleged pressure against Germany so that there is greater efforts to boost growth in the eurozone.
“No specified to any particular country, it has been stated that no slowdown in the euro zone, which is a reality, “said the minister emphasized that while Spain has managed to correct their” domestic imbalances, “the main risk facing is” what can happen in the European environment. ” “Much of the future of the Spanish economy and the maintenance of recovery in Spain is played in Europe, as it can not be otherwise,” he said, recalling that the Spanish economy grew by 0.6% in last quarter versus zero growth of the continent.
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