By John Smith • Published: 18 Sep 2020 • 12:19
THE Bank of Spain has now downgraded its economic forecast due to the rise in Covid-19 infections and doesn’t expect Spain’s economy to return to pre-pandemic levels until 2023 at the earliest assuming there is an effective vaccine introduced by the middle of next year.
The bank previously forecast that Spain’s gross domestic product (GDP) would be reduced between 9.2 per cent and 11.6 per cent this year, but it is now more pessimistic, expecting the fall to be in the region of 10.5 per cent to 12.6 per cent.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
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