Bank of Spain warns Catalan crisis may cut growth by 60%
Uncertainty could imperil Spain’s recovery and reduce growth by 2.5% of GDP until late 2019
The Bank of Spain forecasts the Spanish economy could lose up to 60% of its projected GDP growth until late 2019 if the secessionist crisis in Catalonia escalates.
In its biannual financial stability report, the central bank says the situation in Catalonia is the main uncertainty facing the Spanish economy.
The nationalist coalition governing the Catalan parliament organised a referendum on independence on October 1, considered illegal by the Spanish government. It then unilaterally declared
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