Floods that occurred in October in Spain may lead to a 0.2 percent decrease in the country's Gross Domestic Product (GDP) in the fourth quarter, Azernews reports.

This was stated by the Governor of the Bank of Spain, Jose Luis Escrivá.

Escrivá also noted that the natural disaster could result in a 0.15 percent increase in inflation.

The devastating floods in eastern Spain in October resulted in the death of 217 people, and nearly 90 individuals are reported missing.