Political uncertainty to affect Catalonia's economy in Q4: minister

Source: Xinhua| 2017-10-31 04:05:34|Editor: Mu Xuequan
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MADRID, Oct. 30 (Xinhua) -- Uncertainty due to the political situation in Spain's northeastern region of Catalonia will affect its economy in the fourth quarter, Spain's minister of economy and competitiveness, Luis de Guindos, said on Monday.

He pointed out that the political situation there, which saw the regional parliament declare independence from Spain on Friday and the Spanish government take control of the region's main institutions, would "strictly" affect the Catalan economy in the last four months of the year.

In the rest of Spain, there has not yet been a notable impact, he said, stressing that the Spanish economy was "strong" and would grow by 3.1 percent this year and above 2.5 percent the following year.

De Guindos highlighted that markets had a good reaction after the application of Article 155 of the Spanish constitution in Catalonia which aimed at "returning Catalonia to legality under the Spanish constitution".

Spain's Prime Minister Mariano Rajoy dissolved the regional parliament and called regional elections on Dec. 21.

According to the College of Mercantile Registers of Spain, a total of 1,821 companies left Catalonia to other places in Spain between Oct. 2 and 27, including 519 from Monday to Friday of last week.

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