The issuing entity has made a report estimating a drop in GDP of up to 13.6% and 4.6 million affected by ERTE or cessation of activity

The Popular Parliamentary Group has requested the appearance of the Governor of the Bank of Spain in the corresponding Commission of the Congress of Deputies to report on the evolution of the economy as a result of the situation generated by the health crisis of COVID-19.

The Bank of Spain has released a report this Monday with its first forecasts on the impact of the crisis derived from COVID-19 on the Spanish economy, which estimates that the Spanish GDP will fall without precedent in recent history, with a drop in GDP of up to 13.6%, a deficit of between 7% and 11%, and a rebound in the unemployment rate that would skyrocket to 21.7%, which goes beyond the maximum impact estimates made by the IMF.

In the report Reference macroeconomic scenarios for the Spanish economy after COVID-19, the issuing bank also estimates 4.6 million those affected by ERTE or cessation of activity, at a cost of 6,000 million.

This request for appearance is added to that already requested by the Popular Group, in Commission, of the third vice-president of the Government, Nadia Calviño, who will have to respond, among other matters, to this prospecting on the impact of the Coronavirus crisis on the Spanish economy carried out by the Bank of Spain.

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