October 3, 2018 / 10:52 AM / 10 months ago

No-deal Brexit would cost Spain 0.2 percent of GDP: IMF

MADRID (Reuters) - Spain’s economic output would be reduced by 0.2 percent over the long term if Britain leaves the European Union without a free trade deal next year, the International Monetary Fund (IMF) said on Wednesday.

IMF Mission Chief for Spain Andrea Schaechter made the forecast during a news conference to present the concluding statement of its 2018 report on the country.

The EU as a whole would suffer economic damage worth about 1.5 percent of annual GDP in the long term in the case of a so-called hard Brexit, the IMF said in July.

Reporting by Belén Carreño, writing by Isla Binnie; editing by Jesús Aguado

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