Spain's economy to grow by 3.1 pct in 2017: bank

Source: Xinhua| 2017-09-29 01:18:28|Editor: yan
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MADRID, Sept. 28 (Xinhua) -- The Bank of Spain Thursday predicted the country's economy will grow 3.1 percent in 2017.

The bank also predicted a 2.5 percent growth for 2018 and a 2.2 percent gross domestic product (GDP) expansion for 2019.

Meanwhile, in the third quarter of the year the Spanish economy grew by 0.8 percent, meaning a slight slowing down.

The bank said that imbalances within the economy will continue to be reduced, competitiveness will improve and companies' and families' debt will continue to fall which would make economic growth more stable.

The institution warned however that the situation in Spain's northeastern region of Catalonia, where a referendum over its independence is set to be held on Sunday, could "affect confidence" and decision-making.

The general director of Economy and Statistics of the Bank of Spain, Pablo Hernandez de Cos, said so far, no negative impact had been noticed on financial markets, but stated that the situation in Catalonia involved "uncertainty" in the future.

Spain's Minister of Competitiveness Luis de Guindos said in an interview that the central government was willing to talk about a new financing system for the regions which would take into account their specific characteristics.