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Spain's 2013 unemployment level to hit 26.9%  Join our daily free Newsletter

MENAFN - 28/11/2012

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(MENAFN) The Organization for Economic Co-operation and Development's (OECD) latest report shows that in 2013, Spanish unemployment rate is forecasted to hit 26.9 percent from 25 percent in 2012, reported Xinhua News.

The number of unemployed people would exceed 6 million, however, in 2014, jobless rate in the debt-ridden country would fall to 26.8 percent.

The OECD also noted that next year; the country's gross domestic product (GDP) would drop by 1.4 percent, compared with a contraction of 1.3 percent in 2012.

Moreover, Spain is forecasted to post a deficit of 8.1 percent this year; nevertheless, it would decline to 6.3 percent in 2013 and 5.9 percent in 2014.

It is worth noting that Spain's government predicts the country's GDP to shrink 1.5 percent in 2012 and 0.5 percent next year.

 






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