It has chained its second consecutive annual growth after the increase of the same rate in 2021 and after the setback caused by the arrival of the Covid-19 pandemic.
Euskaraz irakurri: Spanish product is %5.5 hazi zen 2022an
The Spanish economy grew by 5.5% in 2022, following a quarterly increase of 0.2% in the last quarter of the year, according to the country’s accounting data published by the National Statistics Institute (INE).
For example, GDP registers two consecutive increases of the same percentage (in 2021 it was also 5.5%), and that is another recovery after the historic drop of 11.3% caused by the coronavirus outbreak.
This data exceeds the forecasts of various institutions and organizations. The Spanish government had forecast an increase of 4.4%, the IMF 5.2% and the Bank of Spain 4.6%.
The Ministry of Economy has emphasized that this growth has been achieved “in an international context of great uncertainty”, demonstrating the “great strength and resilience” of the Spanish economy.
Breaking down the data, national demand contributed 2.8 points to GDP growth, while external demand contributed 2.6 points.
Economy has pointed out that the latter figure has been achieved “thanks to the dynamism of exports”. In the case of domestic demand, they stressed that “it has weathered the impact of inflation and rising costs well.” The department led by Nadia Calviño wanted to emphasize that “Spain has practically restored pre-pandemic GDP levels”.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
