Spain economy shrinks 11% in 2020: Statistics Institute

Madrid, Jan 29 (AFP/APP): Spain’s economy contracted sharply by 11 percent in 2020 due to the upheaval triggered by the Covid-19 pandemic, the National Statistics Institute said in a first estimate published Friday. The figure is largely in line with the fall of 11.2 percent predicted by Spain’s government although the International Monetary Fund had seen a sharper contraction of 12.8 percent.

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