Spanish media are reporting that the European Commission will make public their economic forecast for Spain this Friday. The numbers circulating out of Brussels are a dire contrast to what Spanish politicians have been announcing. EU anticipates a 1.6% contraction of GDP in 2012 and 1.5% next year. Spain will see growth until 2014 with a 0.5% advance.
Earlier Spanish Labor Minister FÃ¡tima BÃ¡Ã±ez announced a drop of 1.5% for this year and only a contraction of 0.5% in 2012. The figures out of the European Commission will put pressure on the Spanish government to address the actual state of the economy and the recovery timeline as the markets await an official Spanish bailout request
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