Faine (CaixaBank) expects the economy to grow 2.8% in 2016 – Yahoo Finance Spain

Barcelona, ​​Jan 29 (EFE) .- The president of CaixaBank, Isidre Fainé, the Spanish economy expected to grow 2.8% this year and believes that the unemployment rate should fall below 10% by the end of the decade, which will only be achieved if more than 400,000 jobs a year are created.

“I think we can not expect less,” he said Faine during the press conference of presentation of the annual results of the company, which in 2015 earned a profit of 814 million euros, 31% more than last year.

According to Fain, 2015 balance the Spanish economy is “very positive”, after closing with an increase in GDP of 3.2%, above the eurozone average, thanks to the recovery in domestic demand and booming exports, which grew more 6% last year.

These good results have been also favored by external factors such as low interest rates or oil, but above all, stressed the President of CaixaBank, for reforms Structural implemented in recent years in Spain.

“We have a good starting point for 2016,” said the manager, who estimates that the growth of the Spanish economy in 2016 will stand at 2, 8%, “at a rate slightly lower” in 2015.

Fainé expected to continue to recover this year the real estate sector, with a further increase in sales and a moderate increase in prices, a process that “you will see in the next seven or eight years at least.”

The economic situation is also ripe for Spain to continue reducing its debt and deficit of pubic administrations, although “the great challenge ahead “he stressed, is the correction of the unemployment rate, which currently stands above 20%,” unacceptable “.

Fainé has not detailed its estimates for job creation for the current year , but he stressed that “only if the economy creates more than 400,000 jobs a year the unemployment rate will fall from 10% at the end of the decade”.

On the situation of the financial system, the president has indicated CaixaBank Credit flow has grown again to families and SMEs, who has made 14%.

In this regard, it hopes that positive inertia that support consumption growth in 2016 remain and investment, big business and the political advantage of low interest rates there today to drive major projects.

“If now, with the guys there, major projects do not know when they will do, “he detailed

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