First it was Funcas, then the Bank of Spain and, this Thursday, two very important organizations have joined what is already a massive worsening of forecasts for the Spanish economy as a result of the war in Ukraine: the

Independent Authority of Fiscal Responsibility (AIReF) and BBVA Research

.

And they have done so, in both cases, substantially.

The new AIReF forecast is that the Gross Domestic Product (GDP) of Spain will rebound by 4.3% this year, which is a

two-point snip

.

And in parallel, the

average inflation estimate shoots up by five

points, reaching 6.2%.

At practically the same time, BBVA's research service was even more negative and indicated that the economic advance will be 4.1%, which shows a reduction of 1.6 points.

In addition, the team led by Jorge Sicilia and Rafael Domènech forecasts that

growth in 2023 will be 3.3%

, which represents an additional cut of 1.6 points.

In terms of prices, the CPI forecast by BBVA Research also goes further than the AIReF data.

"

Inflation has become the main threat to consolidate the recovery of the Spanish economy.

In this way, inflation, on average, could end 2022 at 7% and 2023 at 2.5%", the report points out of the studies service, which adds that the data "could be moderated this year if the European Commission approves the proposal of the governments of Spain and Portugal to limit the price of electricity".

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