The Spanish economy I grow in 2015 at a rate of 2% and be able to create 348,000 net jobs in that year, according to new estimates submitted by the Government and underpinning the draft State Budget, approved yesterday by the Council of Ministers.
Way of an exercise with two electoral events (May regional and municipal elections in general and November, except advance), the economic team Mariano Rajoy conveyed the message that Spain is able to overcome the slump eurozone, to grow more than all the countries in the monetary area and also meet the deficit reduction targets.
The Economy Minister Luis de Guindos, who appeared before reporters by the finance minister, Cristóbal Montoro, and the vice president, Soraya Sáenz de Santamaría, included this time in his script on employment numbers rang balance legislature. De Guindos underlined that Spain will close 2015, and therefore the current mandate of Rajoy, with an unemployment rate (22.2%) lower tenths to the PP inherited from the socialist past executive Jose Luis Zapatero (22.6% ). Partly for job creation and partly by the decline of the labor force (resulting from migration or discouragement of unemployed stop looking for work).
The minister also stated that according to expectations of his team, Spain will recover 622,000 jobs between this year and next. The legislature will end, according to these accounts, with 17.7 million Spaniards working less than 396,000 by the end of 2011 the government used for these calculations the information on the Labour Force Survey (LFS) relative to the fourth quarter of each year place of employment measured in terms of national accounting, computing jobs full-time equivalents. With this latter method, the most common in developing macroeconomic boxes Budgets, gain employment between 2014 and 2015 would be 345,000 full-time jobs.
The government raised its growth forecasts domestic product Gross (GDP) compared to the formulated months ago: the estimated rate went from 1.2% to 1.3% this year and 1.8% to 2% next year. The stagnation in the euro zone itself has moved to the Executive to be contained in the revision of what is guessed to early summer. Then, members of the executive even suggested that GDP would advance 1.5% this year.
De Guindos introduced new provisions as “realistic” and “conservative”. He said that despite the European blip, reforms undertaken by Spain, the “positive tone” of the expectations of consumers and businesses, the “gradual” improvement in financial conditions, fiscal reform and the “export dynamism” will the Spanish economy may accelerate recovery in these two years. The minister himself acknowledged dates back to Spain “is not immune” to sluggish eurozone and yesterday hinted that compliance with government forecasts is partly conditional on Europe regain growth momentum in 2015, “thanks to a more favorable tax environment and measures to boost the European Central Bank. “
The government estimates rest on this assumption and the expected boost in exports outside Europe with the depreciation of the currency only induced by ECB policies. And particularly the new forecasts are anchored in the presumed improvement in domestic demand: household consumption, stimulated by the reduction of income tax; investment in capital goods, and construction, which estimates the Executive, it will have a positive contribution to Spanish growth after six years of sinking.
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