The Bank of Spain drastically lowered its 2012 growth estimate to -1.5%, while the IMF is...

|By:, SA News Editor

The Bank of Spain drastically lowered its 2012 growth estimate to -1.5%, while the IMF is expected to release a -1.7% estimate for Spain, but these figures appear to be politically driven best-case scenarios. The reality is that Spain’s target deficit of 4.4% of GDP is entirely unachievable and instead will most likely be above the 2011 deficit of 8.3%. (submitted by James Kostohryz)