Spanish government cuts 2023 economic growth forecast to 2.7%

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 Titanium Media App reported on July 27 that on July 26, local time, the Spanish government lowered its economic growth forecast for the country in 2023 to 2.7% from the previous 3.5%. The Spanish government also reported that the country's inflation rate is expected to reach 7.8% in 2022 due to the energy crisis caused by the conflict between Russia and Ukraine. Spanish Deputy Prime Minister and Minister of Economy and Digital Transformation Calvinho said that inflation will be the main challenge facing the Spanish economy. On the 26th, the Spanish government approved the draft national budget for 2023, which stipulates that the amount of Spanish spending in 2023 will reach a record high, which is expected to reach about 198.221 billion euros. (Source: CCTV)

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