Spain’s Economy Minister Pedro Solbes feels Spanish 2009 and 2010 growth may be weaker than the government has forecast. Solbes sees risk to government estimates the economy will contract 1.6% in 2009 and return to growth of 1.2% in 2010.

The official warns “With the figures we have now in 2009, and transferring them to exisiting models, you could have more negative figures than the ones we have now.” Yes indeed, those forecasts do look a smidge on the optimistic side!!!