SPAIN is the only developed economy to have its growth prospects for 2018 reduced by the International Monetary Fund.

The forecast cut back, announced during the World Economic Outlook Update, has been put down to political uncertainty.

Projected to grow by 2.4% in 2018, it is one tenth of a point below the previous figures published in October.

Estimates for 2019 have also been readjusted to 2.1%, one tenth above earlier suggestions, based on the premise that political unrest will have subsided.