Sunday, 28 May 2023 02:14 GMT

Spanish Economic Growth Speeds Up In Second Quarter

(MENAFN- Kuwait News Agency (KUNA)) MADRID, Sept 23 (KUNA) -- Official data showed on Friday that Spain's gross domestic product grew by 1.7 in the second quarter of this year.
The Spanish National Institute of Statistics said in a statement that the statistical indicators it circulated indicated that the Spanish economy grew in the period between last April and June, not 1.1 percent, as was announced at the end of last July, attributing this to the lack of all indicators at that time.
It added that this growth was due to the increase in external demand while stressing 'the strength of the Spanish economy in an environment marked by the impact of the Russian war in Ukraine.'
It also pointed out to the measures taken by the government in the recent period to protect companies and families from rising energy and raw materials prices.
The Spanish government confirmed that the economy would grow by 4.3 percent this year and slow to 2.7 percent in 2023, after it grew by 5.1 percent in 2021, achieving the largest annual growth since 2000. (end)


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