Spanish GDP lost 0.5% in January-March

Source: 24/7 Wall St.
© Scanpix/FP
According to the latest statistics, Spanish economy declined 0.5% in the first quarter of 2013 from the last quarter of 2012. On a yearly basis, GDP contracted by 2%. The Central bank of Spain expects GDP to decrease 1.3% this year. Additionally, unemployment rate in the country reached 27%. Moreover, country's budget deficit is planned to be 6.3% this year, more than 4.5% predicted before.   
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