MADRID, July 29 (Reuters) - Spain's Economy Minister Luis de Guindos said on Tuesday the government would revise its current economic growth forecasts to around 1.5 percent growth this year and to around 2 percent next year.

The government currently sees the economy expanding by 1.2 percent in 2014 and 1.8 percent in 2015 and the new guidance on official forecasts, to be finalised in September, comes after a similar update by the Bank of Spain last week.

(Reporting by Carlos Ruano, Writing by Paul Day, Editing by Sarah Morris)