• Salud.Coronavirus in Spain, live
  • Coronavirus. The "very strong recession" that CaixaBank predicts: a 10% drop in GDP, a 60,000 million deficit and a 20% unemployment

Each month of confinement will have such an economic impact that it will subtract up to two percentage points from economic growth. So " if the closure lasts for three months, annual GDP growth could be between four and six percentage points ."

OECD Secretary General Ángel Gurría yesterday conveyed to the G20 leaders these worrisome estimates on the economic impact of the coronavirus crisis, since he himself pointed out that it is too early to speak of forecasts, and in which he also He stated that Spain will be one of the economies that suffers the most from the "unprecedented measures" that the governments have had to apply.

Thus, the potential impact of a partial closure (such as the one that already exists) or a total closure would cause a collapse in activity of almost 30% in Spain , a figure that is only exceeded by Germany, Mexico, Japan and Greece, and which is well above 15% estimate for, for example, Ireland.

This sharp drop is directly related to the collapse of tourism, which according to OECD estimates will drop by 70% . In Spain, this industry contributes about 12% of the Gross Domestic Product (GDP) and has been key in the years of strong economic growth.

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