Spain trims growth forecasts following Catalonia independence row

19 Oct 17

Spain has cut its growth forecasts for 2018 as a result of the political crisis in Catalonia, the government has said.

The centre-right government said on 17 October that the Spanish economy is expected to grow 2.3% instead of the 2.6% previously predicted.

The economy ministry said this was due to the slower global growth as well as lower domestic consumer spending following the unauthorised independence referendum in Catalonia on October 1.

Catalonia accounts for one-fifth of the Spanish economy.

The referendum, where 2 million people defied the courts and governments and voted for independence, was ruled illegal because the regional law, known as the “self-determination referendum law”, was not backed by Spain’s constitution. 

Did you enjoy this article?

Related articles

Have your say

CIPFA latest

Related jobs