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Summary Spain's central bank on Monday forecast that the country will fall back into recession in 2012.
According to the bank, the country, which is struggling to slash its deficit and debt, will fall back into recession this year with a contraction of 1.5 percent.The Bank of Spain said however it expects Spains economy to make a modest rebound in 2013 with growth in gross domestic product (GDP) of 0.2 percent. It added that it estimates the economy to have grown by 0.7 percent in 2011.
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