MADRID (Reuters) – Spain’s economy should shrink between 6.8% and 12.4% this year depending on whether its lockdown over the coronavirus, first imposed in mid-March, lasts eight or 12 weeks, the Bank of Spain said on Monday as it charted various economic scenarios.
The Spanish central bank said the disruption suffered by the Spanish economy was, as in the case of other countries, of “considerable severity”, although there was still great uncertainty.
In any case, an upturn is expected to begin in the second half of the year, leading to a “remarkable recovery” in 2021, with a projected growth of between 5.5% and 8.5%, it said.
(Reporting By Jess Aguado and Emma Pinedo; editing by Andrei Khalip)
