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Spanish economy to grow by 1 pct in 2014: central bank chief

English.news.cn   2014-03-14 11:32:24

MADRID, March 13 (Xinhua) -- Bank of Spain Governor Luis Maria Linde forecast an economic growth of around 1 percent for this year, local media reported Thursday.

The Spanish economy would grow "slightly above or below this figure" in 2014, Linde told an economic forum in Madrid.

The central bank would provide the exact figure in two weeks, he added.

Earlier, the European Commission and the Spanish government published the same prediction for this year's economic growth.

Meanwhile, other Spanish institutions recently revised up their economic predictions for the country, with the Confederation of Businesses Organizations and the Saving Banks Association saying the economy would grow by 1.2 percent in 2014.

Linde warned that although the economic situation was better than before in some aspects, problems affecting the Spanish economy were not solved yet.

Spain should continue to improve its competitiveness, he said, adding that some aspects of labor and pensions reforms should be modified.

The central bank chief also forecast an inflation rate of just 0.4 or 0.5 percent by the end of 2014, saying: "It is important it should be low to maintain competitiveness."

Capped by falling fuel costs, Spain's consumer prices climbed at an annual rate of just 0.1 percent in February after edging up 0.3 percent in the previous month, according to the National Statistics Institute.

Editor: An
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