Spain said to revise its 2020 GDP forecast lower to -11% – Europa Press

The Spanish government is reportedly considering downgrading it’s Gross Domestic Product (GDP) forecast for this year to between -10% and -11% from May’s 9.2% contraction estimated, Europa Press reported on Sunday, citing sources from the government.

“The government will update its GDP forecast for this year in early October and is likely to update its budget deficit target too to a wider deficit than the 10.3% of GDP target announced in May,” the media outlet noted.

more to come …