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Spain to update growth projections, hike 2017 forecast - minister

Published 08/11/2016, 12:52
Updated 08/11/2016, 13:00
© Reuters. A Spanish flag flutters above the Madrid Stock Exchange

MADRID (Reuters) - The Spanish government will change its official economic projections and hike forecasts for growth in 2017, Economy Minister Luis de Guindos confirmed at a news conference on Tuesday.

De Guindos had already suggested this week that growth could be higher than the 2.3 percent previously anticipated in 2017, which will help the government design a new budget for next year that complies with EU deficit agreements.

"Quite simply, this year's growth of more than 3 percent will automatically mean that the inertia going into next year will be more positive and that we will raise our growth forecast for next year," De Guindos told a televised news conference in Brussels.

© Reuters. A Spanish flag flutters above the Madrid Stock Exchange

He did not give a new figure for 2017 growth or detail when the new projections would be released.

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