Spanish economy to shrink slightly in the second quarter

It was stated that the shrinking in the second quarter was "moderate and meaningful" and it was due to various causes like the direct and indirect effects of financial reforms.

Spanish economy to shrink slightly in the second quarter

World Bulletin/News Desk

The Spanish economy shrank 0.1 percent in the second quarter of 2013, the Bank of Spain declared on Tuesday.

According to data of Bank of Spain, that are not completed yet, the shrinking in the second quarter was slighter than the first one. The economy shrank 0.5 percent in quarter first while the shrinking rate in the second quarter was 0.1 percent.

It was stated that the shrinking in the second quarter was "moderate and meaningful" and it was due to various causes like the direct and indirect effects of financial reforms.

On the other hand, the Spanish Treasury has borrowed 3 billion 519 million 400 thousand euros with the lowest interest rate for the second time at 3 and 9 months bond auctions.

Last Mod: 23 Temmuz 2013, 14:30
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