Published Date:
04 August 2008
SPAIN'S once-booming economy is in worse shape than expected and could slip to zero growth, the country's finance minister admitted yesterday.
But the Socialist government does not expect a recession, Pedro Solbes said.
For more than a decade, Spain's robust growth was the envy of much of Europe.
However, new figures suggest that the economy will expand only 1.6 per cent this year and 1 per cent in 2009, compared with 3.8 per cent in 2007, Solbes said.
The full article contains 86 words and appears in The Scotsman newspaper.
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Last Updated:
03 August 2008 9:04 PM
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Source:
The Scotsman
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Location:
Edinburgh
