Spain cuts growth forecast to 2.3pc
Spain's government announced late Monday it was cutting its forecast from 2.6 percent to 2.3 percent economic growth next year, saying the political crisis in Catalonia was creating uncertainty.
It said in a budget plan sent to Brussels that it was down to the economic cycle as well as "a slight containment of domestic demand that resulted from the uncertainty associated with the current political situation in Catalonia".
Prime Minister Mariano Rajoy already warned about the economic impact of the political standoff in a letter Monday to separatist Catalan leader Carles Puigdemont.
“The latest steps taken by you and your government are causing a major divide in Catalan society, as well as enormous economic uncertainty that threatens people's well-being."
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