Spanish Business News

MADRID -(Dow Jones)- Spain's government Friday said it sees the country's economic recovery continuing to gain strength in the year 2014.

As part of an annual budget report for the European Union, the government said it forecasts Spanish gross domestic product will grow by 2.6% in 2014, while the government's budget deficit will fall to 2.1% of GDP.

The government maintained existing forecasts for the years 2011-2013.

Spain is starting to emerge from a lengthy recession this year after the collapse of a decade long housing boom. Its 2010 budget deficit of 9.2% of GDP was one of the highest in the EU.

Source: Nasdaq