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 BBVA Research: 2012 recession not escalating, while reforms underway, although requiring intensification, should pave the way for faster growth- BBVA Research: 2012 recession not escalating, while reforms underway, although requiring intensification, should pave the way for faster growth
- May 10, 2012
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BBVA Research’s latest estimates confirm the recession in Spain, pointing to a GDP contraction of 1.3% this year. However, economic indicators are revealing a less dramatic than estimated deterioration in the real economy.
The data presented in its ‘Spain Economic Outlook’ report, published today, show that the measures adopted lend credibility to the ability to meet current fiscal deficit targets. BBVA’s economic research department has flagged the positive effect of the program set in motion by the state government to enable supplier payments by cash-strapped regional and local governments as it will entail a liquidity injection that will boost economic activity.
The outlook for 2012 is still for a GDP contra...
- View more at: http://www.1888pressrelease.com/bbva-research-2012-recession-not-escalating-while-reforms-pr-395868.html
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