Spain expects the economy’s decline by 8% and increased unemployment to 20%

The international monetary Fund predicts economic decline of Spain by 8% and increased unemployment to 20% in the epidemic of the coronavirus.

According to “European Pravda”, reported newspaper El Pais.

Испанию ожидает падение экономики на 8% и рост безработицы до 20%

According to IMF forecasts contained in the April report, “Global economic review”, as a result of the coronavirus pandemic of Spanish GDP could fall by 8% and unemployment to rise to 20.8%. Prior to the outbreak of coronavirus, the newspaper reminds, the country’s economy predicted growth of 1.6% in 2020.

For comparison, during the financial crisis of 2008-2009, the economy fell by 3% during the sovereign debt crisis in 2012 — 2.9%.

After the crash, in 2021 the Spanish economy is expected to grow by 4.3 per cent.

Similar consequences — a fall in GDP of about 8% — forecast for Portugal, Latvia and Lithuania, Slovenia. For Italy and Greece, the prognosis is worse: Italy and 9.1% for Greece and 10%.

Some of the best indicators — the fall in the region of 7% — forecast for the economy of Germany, France, Austria, Belgium.

We will remind, on April 13 in Spain, after a two-week stop, resumed work enterprises not related to the critical infrastructure, in particular in industry and construction.