Spain's economy grow 1.1%

The Spanish economy would grow by 1.1 percent in 2014 according to predictions published on Wednesday by Spain's second-largest lender, BBVA. BBVA revised up its economic predictions for 2014, as the bank had previously predicted a 0.9 percent growth for 2014. It predicted a 1.9 percent GDP expansion for 2015, unchanged with its February prediction. Spain's unemployment rate would be at 25.1 percent in 2014 and would fall to 24.2 percent in 2015. BBVA said that employment in Spain would grow by 0.3 percent in 2014 and by 1.4 percent in 2015. BBVA stated that some uncertainties had been solved, while pointing out that Spain's public administration had almost met the deficit target and private consumption was growing. BBVA said that Spain's public deficit would fall to 5.8 percent of the country's GDP in 2014 and to 5.1 percent in 2015. These new predictions were published a week after the Spanish government had revised up its economic predictions for Spain. The government expects Spain's economy to grow by 1.2 percent in 2014 and by 1.8 percent in 2015. Meanwhile, the European Commission said on Monday that Spain would grow by 1.1 percent in 2014 and by 2.1 percent in 2015.