The Bank of Spain has revised down its economic predictions for 2018 and 2019, according to the forecast published by the bank on Friday.
The national central bank of Spain said Spanish economy would grow by 2.4 percent in 2018, 0.1 percent lower than its earlier prediction.
In 2019, Spain’s economy would grow by 2.1 percent, also 0.1 percent lower than the previously predicted.
The bank has attributed this drop to the political situation in Spain’s northeastern region of Catalonia, where separatism has caused uncertainty affecting the economy.
Meanwhile, the Bank of Spain has predicted a 2.1 percent GDP growth for 2020 and a 3.1 percent GDP expansion for 2017, although it warned that in the last quarter of the year political uncertainty could undermine growth.