Madrid.The International Monetary Fund offered this week a slight downward revision of its growth forecast for Spain, predicting a GDP contraction of 1.6 percent this year and a 0.7 percent rebound in 2014.
The new figures, published Tuesday in the IMF's biannual World Economic Outlook, are 0.1 percent lower than what had been predicted in January, when the Fund forecast a 1.5 percent economic contraction in 2013 and a rebound of 0.8 percent next year. Also, the IMF expects that Spanish unemployment will peak in 2013 at 27 percent, the highest in the Eurozone, along with Greece, and will then decline slightly in 2014 to 26.5 percent.
The outlook for Spain comes amid a difficult situation in the Eurozone, for which the IMF also reduced its growth forecast, calling for a 0.3 percent contraction this year and growth of 1.1 percent in 2014.
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