Economics
IMF Cuts Spain’s Economic Outlook on ‘Key’ Pandemic Risk
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The International Monetary Fund lowered its economic-expansion forecasts for Spain and warned of high downside risks as the coronavirus’s omicron variant sweeps across Europe.
Last year’s recovery from the euro area’s deepest contraction has been hit by global supply disruptions and the lingering impact of the pandemic on services, the IMF said Wednesday in a statement following a so-called Article IV review. It trimmed its growth projections for 2021 to 4.6% from 5.7% and for 2022 to 5.8% from 6.4%.