Arab Today, arab today no growth in spanish economy in 3rd quarter
Last Updated : GMT 07:52:26
Arab Today, arab today
Arab Today, arab today

No growth in Spanish economy in 3rd quarter

Arab Today, arab today

Arab Today, arab today No growth in Spanish economy in 3rd quarter

Madrid - Xinhua

The timid growth of the Spanish economy came to a halt in the third quarter of the year according to figures published by the Bank of Spain (BOE) this Monday. While the economy had grown by 0.2 percent between April and June of this year, the period July-September saw zero growth (0.0 percent). The Bank considers that the continued reduction in internal demand, which is partly a consequence of the almost 5 million people out of work in Spain and the fear that unemployment is going to increase yet further in the coming months, is a factor in growth grinding to a halt. Internal demand dropped by 0.8 percent in the third quarter and although there have been \'slight increases\' in business investment, that is also under threat as a result of Spain\'s banks needing to increase their capital to nine percent as a result of the recent agreements made between EU leaders in Brussels. The BOE highlights that in the third quarter of the year, the Spanish economy has continued to be weakened in an atmosphere of crisis made worse by worries over the sovereign debt in the Euro-zone. The official predictions of the Spanish government were for the economy to grow by 1.3 percent during 2011, although that prediction now looks almost impossible to fulfil and the bank warns that the slowdown in growth could cause problems when it comes to reducing the state deficit. Although figures last week showed the Spanish state deficit continues to shrink, that was due to reductions in expenditure outstripping reductions in money collected by the state, which also fell. Should the economy stagnate, then state earnings through direct and indirect tax will also fail to increase, making it hard to further reduce the deficit without further cutbacks in expenditure, which in turn could lead to a continued fall in internal demand. Nevertheless, the BOE insists that whoever wins the General Election on November 20 will have to take the necessary efforts to ensure the deficit is reduced to 4.4 percent of gross domestic product.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today no growth in spanish economy in 3rd quarter Arab Today, arab today no growth in spanish economy in 3rd quarter

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday