(SPAIN) emerged from recession, BUT NOT OF THE CRISIS: DE … – Terra Mexico

(SPAIN) CAME OUT OF RECESSION, BUT NOT OF THE CRISIS: DE GUINDOS

MEXICO, Infosel, May. 3. The Minister of Economy of Spain, Luis de Guindos, said the country out of recession; However, he stressed that the economy remains in crisis although he was convinced that the policies implemented approach the end.

“The banking adjustment has occurred, the budgetary adjustment has occurred, the real estate adjustment has occurred, I would say that the labor adjustment has already occurred. The only question now is to maintain these variables in a normal parameters, avoiding excesses and continue reforms and adjustments, “noted De Guindos during an interview with the newspaper El País.

The owner of Spanish Economy expected growth close to 3% annually until 2018, and the creation of 2.1 million jobs in four years.

In addition, he predicted that from 2016 there will be wage increases of 1.5% above inflation, adding that “unit labor costs will allow Spain to continue gaining competitiveness against the euro area”.

“The risk is that macroeconomic undo the reforms. I say it’s an election message. But the reform of the financial system, the labor market, drive the market, energy reform, I think they have worked, “he said.