April 26, 2013 / 12:10 PM / in 4 years

Spain now sees GDP at -1.3 pct in 2013

1 Min Read

MADRID, April 26 (Reuters) - Spain revised down its forecast for Gross Domestic Product to a contraction of 1.3 percent from a fall of 0.5 percent previously, Deputy Prime Minister Soraya Saenz de Santamaria said on Friday.

The economy will grow by 0.5 percent next year and by 0.9 percent in 2015, the deputy prime minister said.

Saenz de Santamaria, who presented a raft of economic reforms the government intends to pass by 2015, said the public deficit target had also been revised down to 6.3 percent of GDP from 4.5 percent previously.

Unemployment would rise to 27.1 percent this year and fall to 26.7 percent next year, she said.

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