“The Spanish economy is not completely immune to what happens in Europe,” de Guindos said after a two-day meeting of finance ministers and governors of central banks of the G20 summit preparatory leaders in November in the city of Brisbane.
At this meeting of Cairns, growth targets of the global economy 2 was lowered to 1.8% above forecasts to 2018 , following the cuts economic growth forecasts for this and next year, especially in the euro area and Japan.
In a press conference at the end of the meeting, De Guindos He explained that the G20 talked generically about the eurozone, without specifically mentioning the alleged pressure against Germany so that there is greater efforts to boost growth in the eurozone.
“Not specified any particular country, there has been expressed slowdown in the euro zone, which is a reality, “De Guindos to emphasize that while Spain has managed to correct their” domestic imbalances, “ The main risk faced is “what can happen in the European context” .
“Much of the future of the Spanish economy and the maintenance of recovery in Spain is played in Europe , as can not be otherwise, “said the Minister to remember that the Spanish economy grew 0.6% last quarter compared to zero growth of the continent.
In this context The minister hoped that the measures taken by the European Central Bank, such as the depreciation of the euro has been a boost to Spanish exports , and other structural measures by countries to improve the situation.
also said the Sept. 26 figures upward revision will be revealed, compared to projections last April, the growth forecasts for the Spanish economy and job creation and the reduction of the high rate of unemployment for this and next year.
The minister also stressed that the possible impact of the situation in Catalonia, looking for a sovereigntist consultation on the economy was not discussed within the G20 by insisting that “the current sign of the times is clear, it is to share sovereignty.”
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