Thursday, Sep 20, 2007
MADRID: The current global credit squeeze may exacerbate an economic slowdown in Spain, where borrowing by companies and consumers has fueled rapid growth, analysts said.
iht.com: Credit crunch may squeeze the faltering Spanish economy
Spain's economy is already faltering as interest rate increases begin to bite and a nine-year property boom starts grinding to a halt. Many analysts forecast that house prices will fall nationwide as early as next year.
Tighter credit conditions will limit lending to firms that have borrowed to finance an acquisition spree, pushing Spanish corporate debt to 105 percent of gross domestic product - the highest of any large European economy, economists said.
Posted by chris @ 03:39 AM (145 views) Add Comment
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