MADRID, Nov. 17 (Xinhua) -- The Spanish government and the European Commission on Monday raised their forecasts for Spain's economic growth in 2025 to 2.9 percent.
Spanish Minister of Economy, Trade and Business Carlos Cuerpo announced in a speech in Congress that the government would update its macroeconomic outlook and lift its projection for GDP growth in 2025 from 2.7 percent to 2.9 percent.
In its autumn economic forecast published the same day, the European Commission also revised upward its projection for Spain, raising its estimate from 2.6 percent to 2.9 percent for the current year.
The figure is significantly above the 1.4 percent average expected for the EU and the 1.3 percent forecast for the eurozone in 2025.
Commenting on the upward revisions, Cuerpo said in a statement on X that analysts have repeatedly adjusted their estimates for Spain as the economy continues to outperform expectations. "In line with the new data and the European Commission's forecast, the government will revise its projection for 2025 to 2.9 percent," he said.
