Madrid, Spain.
The economic recovery is gaining momentum in Spain allowing growth until 2018, the balance of public accounts and to the crisis officially dead announced yesterday the Spanish government.
The fourth eurozone economy expected to grow 2.9% this year and for 2016 and 3% for 2017 and 2018, Luis de Guindos, said Minister of Economy, after approval of the stability program for the period 2015-2018 submitted to Brussels to Madrid.
“Ours are cautious projections as been seeing over time, but as always it is intended that the reality exceeds to forecasts, “he said.
Meanwhile the budget deficit, which ended 2014 at 5.69% of gross domestic product (GDP) and in 2016 should drop 3% (2.8%) required by Brussels, will come almost to balance in 2018, with 0.3%, promised Cristobal Montoro, Minister of Finance
The country’s debt is also reduced faster than announced so far. is expected to be 98.9% of GDP in 2015 compared to 100.3% last year and in 2018 is 93.2%.
“If these projections are met, Spain can leave behind the longest crisis stronger and deeper much the modern economic history of our country, “de Guindos said.
The Spanish economy seems on track according to data from the first quarter announced hours earlier by the National Statistics Institute. The GDP grew 0.9% over the previous quarter and 2.6% year on year.
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