8/14/2019 Spanish Forecast from Santiago Nio Becerra in 012009 & 10.06.2009

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Spanish Forecast from Santiago Nio Becerra in 01.15.2009 )

2009 2010 2011 2012

GDP (-2.7/-2.1) (-3.3/-2.8) (-4.0/-3.4) (0.0/0.5)

Unemployment (18.0/20.0) (20.0/22.0) (23.0/25.0) (23.0/28.0)

Inflation (-1.5/-2.0) (-1.0/-1.5) 0.0 0.0

From the Program "La Maana en Vivo".Spanish Forecast from Santiago Nio Becerra in 10.06.2009 )

2009 2010 2011 2012 2013

GDP (-4.0/-3.8) (-4.5/-4.3) (-9.0/-8.0) (-2.0/-1.0) (0.0/0.0)

Unemployment (19.0/20.0) (21.0/24.0) (23.0/26.0) (26.0/31.0) (26.0/26.0)

Inflation (-0.9/-0.7) (-2.0/-1.0) (-6.0/-3.0) 1.0 2.0

Spanish Forecast from Santiago Nio Becerra in 10.06.2009 )

2009 2010 2011 2012 2013

GDP (-4.0/-3.8) (-4.5/-4.3) (-9.0/-8.0) (-2.0/-1.0) (0.0/0.0)

Unemployment (19.0/20.0) (21.0/24.0) (23.0/26.0) (26.0/31.0) (26.0/26.0)

Inflation (-0.9/-0.7) (-2.0/-1.0) (-6.0/-3.0) 1.0 2.0

Spanish Forecast from Santiago Nio Becerra in 03 .05.2009 ) La Carta de la Bolsa