Sánchez admits the future looks bleak as the IMF predicts Spain’s economy will be the hardest hit

Tough times ahead for Spain as the FMI predicts a 12.8 per cent drop in the country’s economy, the worst in the world.

Despite having controlled the pandemic from a health point of view, Spain’s Prime Minister Pedro Sánchez today admitted that a “dark horizon” looms over the country’s economy, as the latest forecasts from the International Monetary Fund (IMF) predict a 12.8 per cent drop in Spain’s GDP.

Sánchez made the comments during the opening of the videoconference ‘United response for Latin America and the Caribbean to Covid-19,’ in which Spain brought together leaders from various countries of the region.

In his opening remarks, the Prime Minister admitted that the coronavirus pandemic is far from “settled” despite the situation that Spain and Europe are currently experiencing, given the rapid expansion of the virus on the American continent.

Sánchez appealed for unity now more than ever to face the “terrible health impact” of the coronavirus and, as a consequence, the “terrible economic and social impact of the pandemic, which has forced economies and governments to take forceful and also courageous decisions.”