(Bloomberg) -- Spain is set to pare back its economic growth forecast due to the impact of Russia's invasion of Ukraine, Prime Minister Pedro Sanchez said.
“It's clear that Putin's war in Ukraine is having an impact not only on the European economy, but also on the the global one, and that there will be a downward revision in the growth numbers for GDP in Spain, Europe and the world,” he said in a interview with broadcaster Antena 3 Monday.
Sanchez said that more than 20 million Spaniards are registered as in work and that Spain's economic performance remains “robust.”
At the moment, the government predicts Spanish gross domestic product will expand 7% in 2022. The Bank of Spain at the start of the month cut its growth estimate for 2022 by about one percentage point to 4.5%.
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