The Government contemplates creation of 662,000 new jobs between this year and next, according to the review of the macroeconomic picture that includes the bill of National Budget approved State Friday by the Cabinet. However, the unemployment rate will not go below the five million unemployed.
In the press conference after the Council of Ministers, Minister of Economy, Luis de Guindos has slightly improved its forecast for economic growth and unemployment for this year. So, despite the slowdown in the eurozone, has risen by a tenth the Gross Domestic Product (GDP) to 1.3%, as anticipated last Wednesday THE WORLD. By 2015, two-tenths revises upwards to 2%.
With regard to unemployment, the government has lowered the rate forecast for this year from 24.9% to 24.7% and for next , 23.3% to 22.9%.
Guindos has said that it is a “fairly conservative” estimates because it is giving “very credible” a macroeconomic projections.
However, the minister said that the eurozone is expected to recover the growth rate next year, thanks to a more favorable financial and tax environment and the stimulus measures decided by the Bank year Central European. In this context, it has indicated that the provisions adopted by the Government for the Spanish economy are “prudent and realistic.”
The upward revision of GDP is produced as a result of improved both private consumption (+ 2% in 2014 and 2.1% in 2015), and investment in capital goods (+ 7% in 2014 and 6% in 2015). Furthermore, the construction, which this year will subtract 3.3 percentage points to growth, provide more than three points to GDP next year, for the first time since the start of the crisis year.
So, domestic demand will grow 1.4% this year and 1.8% next year, while the external balance reduced by a tenth in 2014 to growth, but added two 2015 as result of the improvement in imports (+4.4% in 2014 and + 5% in 2015) and exports (up 3.6% this year and 5.2% in 2015).
Deficit
Spain closed the year 2013 with a deficit of 6.33% of GDP, less than 29/10 announced so far, and within target agreed with Brussels (6.5%), following the upward revision of GDP INE presented yesterday with modifications such as the inclusion of illegal activities such as drugs and prostitution.
Minister Finance and Public Administration, Cristobal Montoro , highlighted in the presentation of the draft State Budget for 2015 “Spain ended 2013 amply fulfilling the goal.”
According to the new configuration, the local government surplus was 0.5% in 2013
accounts consolidation
The Council also has green to the State Budget (PGE) 2015 light, whose main objective is to strengthen the economic recovery and strengthening job creation.
According to Montoro, the accounts of 2014 were the recovery and 2015 are those that consolidate the Recuperació ny will attend to cohesion, a fundamental objective to keep bases welfare state.
Accounts contemplate a Total non-interest income of EUR 133 712 000 , 4.3% of the budget in 2014 and 3% higher than the forecast of final earnings obtained in 2014 (129.803 million). They include a spending limit of 129,060 million (-3.2%) .
Within this limit, spending ministries nonfinancial lower by 5.1% to 62.946 million and which to finance the interest fell by 3%, but still added 35,490 million. Meanwhile, spending ministries available to fall by 0.2% to 34.526 million.
The next Budget Plan include Grows to boost growth, competitiveness and efficiency, which will have 2.187 million, to be allocated to R & D, SME actions and unemployment year youth, among other things.
No comments:
Post a Comment