Spanish government raises GDP growth forecast to 2.7 per cent

Spain raised the 2025 economic growth forecast to 2.7 per cent from 2.6 per cent, and said it expected gross domestic product to expand by 0.7 per cent in the third quarter from the previous quarter.

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"Spain will be the fastest-growing advanced economy, and we have a positive outlook until 2028," Economy Minister Carlos Cuerpo said in a press conference.

Spain's economy has steadily expanded in the pandemic’s aftermath, outpacing the sluggish growth of eurozone peers. The ECB expects the Eurozone economy to grow at 1.2 percent this year. Second-quarter Spanish GDP data beat forecasts as output grew 2.8 per cent year-on-year, stoked by investment and consumption.

However, has yet to submit a budget as it struggles to pass legislation in a fragmented parliament.