MADRID, 19 May.



The credit rating agency S

Specifically, the rating agency considers that Spain will grow by 4.7% in 2022, which represents a cut of 1.4 percentage points compared to its previous forecasts. If the reduction of eight tenths that the agency made in February is added, the economic growth forecasts for Spain this year have been cut by 2.2 percentage points.

S forecasts

"Since our last forecast at the end of March, a number of macroeconomic variables have deteriorated, including weaker first-quarter numbers in several countries, higher energy and commodity prices, a longer-than-expected Russia-Ukraine conflict, faster normalization of monetary policy and slower Chinese growth," said the chief economist at S

The eurozone as a whole will grow by 2.7% this year, six tenths less than the previous estimate, while growth for 2024 has stood at 2.2%, four tenths less.

Compared to the rest of the large euro economies, Germany will grow by 1.9% (one point less); France, 2.7% (five tenths less); and Italy, 2.8% (three tenths less). Compared to 2023, growth will be 2.5% (three tenths less), 1.8% (two tenths less) and 2% (one tenth less), respectively.

Regarding the inflation forecasts for this year, S

Inflation in the euro zone will be 6.4% in 2022 (1.5 points more) and will drop to 3% in 2023 (eight tenths more), and to 2.2% in 2024 (three tenths more).