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    Catalan crisis cost '1 billion euros'

    Slowdown in the region’s growth - following the illegal independence referendum - has hit the country’s economy© Reuters

    Baku. 3 January. REPORT.AZ/ SPAIN’s economy minister believes the Catalan crisis has cost the country €1 billion already.

    Report informs citing the Interfax, Luis de Guindos told Spanish radio that a slowdown in the region’s growth - following the illegal independence referendum - has hit the country’s economy.

    "Catalonia used to have growth above that of Spain, it was one of the drivers of the Spanish economy," Mr de Guindos said, adding that the region had now become a “burden”.

    He blamed the previous regional government for generating "enormous uncertainty, concern and a loss of confidence”.

    Growth was reduced from 0.9% to 0.4% in the last quarter, he claimed.

    The estimate, that the crisis has “easily” cost €1 billion and counting, is the highest yet.

    According to reports, 3,100 companies have moved their headquarters out of the region as a result of the ongoing crisis.

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