Spanish bank revises GDP growth

The Bank of Spain revised up the country’s 2018 economic forecast to 2.7 percent, according to an economic bulletin published by the bank. The figure is 0.3 percent higher than the last economic prediction published by the entity. The bank predicted that in 2019 the country’s economy would grow by 2.3 percent and by 2.1 percent in 2020, which meant a 0.2 percent rise and a 0.1 percent increase respectively when compared with the last predictions. It emphasized that Spain’s economy was performing better than expected, pointing out exports, the political situation and budgetary policy as some of the reasons for the improvement.