MADRID, Oct. 15 (Xinhua) -- The Spanish Ministry of Economy and Business on Tuesday published its Budget Plan 2020 in which it revised down the country's economic growth predictions.
The ministry predicted that the Spanish economy will grow by 2.1 percent in 2019, which is 0.1 percentage point lower than its previous predictions made in April.
Next year is likely to see growth of 1.8 percent, which is also 0.1 percentage point lower than previous expectations. But it is still "at a rate above the European average," the Spanish ministry said in the budget plan.
The ministry also expected the unemployment rate to fall to 13.8 percent by the end of this year and to 12.3 percent by the end of 2020.
The predicted growth, it said, is balanced with positive contributions both from internal and external demand, which are expected to rise by 1.5 percent and 1.6 percent respectively in 2020.
