Madrid, April 1 (EFE) .- The Managing Director of Economics and Statistics from the Bank of Spain, Pablo Hernández de Cos, said today that the slowdown “moderate “the Spanish economy is not related to the current political uncertainty.
the Bank of Spain expects a continuation of the current growth period of the economy in 2016 and 2017, although less progress than those of 2015, so that for this year estimated that GDP will grow 2.7%, albeit with a declining profile, while for next forecast 2.3%
in a meeting with the media year, Hernández de Cos, stressed that now a very distinctive technical feature is not perceived in relation to other economies.
the CEO stressed that the “slight” slowdown in the Spanish economy is not due to uncertainty but that “the positive factors of 2015 are ceasing to be so positive.”
in his view, are common factors that are behind this slowdown, although it has stressed that this does not mean that in future uncertainty itself affect the Spanish GDP.
Hernandez de Cos noted that doubts about the future of economic policies may adversely affect the spending decisions of private actors, especially if that uncertainty is prolonged in time.
in this regard, it said that uncertainty is key elements of consumption and investment, which significantly influence growth, and added that there are more risks lower now than in December.
it also has admitted that it can not quantify the impact of political instability because it is “very complicated” technically and said we will wait to see the action taken by the new government to analyze the impact on the economy, because “it is not the sign of the Executive, but decisions and structural reforms that break out”
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