(MENAFN) According to Spain's central bank, the country's recovering economy is forecasted to expand by up to 1.4 percent by year-end, The Peninsula Qatar reported.
The Bank of Spain projected output to grow 0.6 percent in the fourth, while Spanish conservative government expects a 1.3 percent increase this year after 2013's 1.3 percent contraction.
After emerging from recession, Spain's domestic demand is now contributing to a recovery despite a weak external demand especially in the already-struggling Eurozone, the bank added.
Meanwhile, Spain's unemployment rate is still extremely high at 24 percent, but the central bank said hiring would pick up in 2015 in manufacturing and the hard-hit building sector.
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