http://spanish.china.org.cn/economic/txt/2015-07/11/content_36034575.htm
The Gross Domestic Product (GDP) of Spain will grow 3.3 percent this year, ie, four tenths above the last review, reported the Council of Ministers to revizar upward economic variables.
The body said in a statement that these figures allowed the Spanish government led by Mariano Rajoy approve a spending ceiling with sustained reductions of 4.4 percent for the Budget General of the State of 2016.
According to the Cabinet, the current administration contemplates get a lower rate as to unemployed people about which they found when they came to power in 2011.
The Rajoy government hopes to create 602,000 jobs and close 2015 with unemployment at 21.1 percent.
According to the statement, these objectives are achievable because they are based “on a policy oriented economic correction of macro economic imbalances “.
nuance, however, that” the importance of consumption and investment as factors that are pulling the economic recovery. “
The Economy Minister Luis de Guindos said meanwhile that private consumption will increase 3.4 percent in the Iberian country.
The growth will be driven by “the fastest revival expected employment and moderating consumer prices and lower taxes resulting from the tax reform. “
In turn, Finance Minister Cristobal Montoro said that the public debt begin to decline from the year 2015 to reach 98.9 percent of GDP.
He said the Spanish government expects the ratio to GDP is 98.5 percent in 2016, 96 5 in 2017 and 93.2 percent in 2018.
As reported by the Council of Ministers of Spain, the economic recovery both inside and outside the European Union (EU) pushes up exports of goods and services, advancing at a rate of 6 percent per year in volume.
Imports into the Iberian nation, in turn, grow at a rate of 6.4 per cent, , four tenths higher than in 2014.
The employment indicator also maintains average growth rate of 3 percent annually, the report said. F
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