Brussels raises Spain's growth to 1.9% in 2023 but forecasts that the deficit in 2024 will exceed 3%

 The news is about the projections of economic growth in Spain made by the European Commission (Brussels). According to these projections, the Spanish economy is expected to grow by 1.9% in 2023, which is an improvement over the initial forecasts that pointed to growth of 1.4%. This growth is above the average for the euro area and the European Union, where GDP increases of 1.1% and 1%, respectively, are forecast.

Although the projections are positive, the European Commission also warns of a possible increase in the deficit in 2024, which could exceed the 3% limit. However, the Commissioner for the Economy, Paolo Gentiloni, stressed that despite this variation in the budget balance, projections for Spain are optimistic.

In addition, it is mentioned that the drought will have a significant impact on Spanish GDP, but it is highlighted that the energy situation in Spain is positive, without providing further details in this regard.