Coronavirus in Spain Photograph:( AFP )
The Spanish bank warned that the economy is likely to contract between 6.6 per cent and 13.6 per cent due to the COVID-19 induced lockdown
Spain's coronavirus death toll in the past 24 hours fell below 400 from 410 on Sunday.
Spain recored 399 deaths due to the virus on Monday.
The country has 200,210 cases of COVID-19 which is second only to the United States which has 759,786 cases so far, according to Johns Hopkins coronavirus resource center's live tracker.
"Today for the first time we've fallen under 400 deaths, although it's only a little lower (than Sunday), these figures give us hope," Fernando Simon, the health ministry's official said.
"These are very encouraging figures," the official added.
Meanwhile, the Spanish bank warned that the economy is likely to contract between 6.6 per cent and 13.6 per cent due to the COVID-19 epidemic. The bank said the situation was subject to "huge uncertainty" depending on how long the current lockdown.
Spain had announced a lockdown on March 14 as the death toll began to shoot up. There are 20, 852 deaths due to the virus in the country, the highest in Europe after Italy which has recorded 23,660 deaths.
Last Saturday, Spain had said it has extended the lockdown till May 9, although some businesses were allowed to open.