Spain left in 2014 to five years of recession or no growth, but still has one of the highest unemployment rates in the industrialized countries and the second largest EU behind Greece, which continues to fuel a strong social unrest.
As had already anticipated the chief minister, Mariano Rajoy, the ministry also confirmed an upward revision of growth this year 3.3% of GDP against 2.9% previously forecast growth
This represents more than twice the average of 1.5% expected by Brussels for the whole of the Eurozone
“For the first time since the start of the crisis in 2008, the Spanish economy begins to see light at the end of the tunnel,” said Economy Minister Luis de Guindos, at a press conference at the end of the weekly cabinet meeting.
executive Rajoy imposed a draconian policy of cuts and tax increases after coming to power in late 2011 to save 150,000 million euros until the end of 2014 and stabilize finances public.
However, the conservative Popular Party now sees jeopardize his re-election in the legislative provided later in the year before the rise of anti-austerity parties as we can.
Finance Minister Cristobal Montoro, reviewed Friday down public debt forecast for this year, located so far in 100.3%.
“In terms of debt, the next big goal is to close 2015 at 98.9% of GDP” he said.
“And in 2016 would be the first year that still modestly started down the debt burden”, with a forecast of 98.5%, he added.
Public debt Spanish not stopped growing since the outbreak of the crisis in 2008. In 2014 it was 97.6% of GDP. At the end of 2014 was 92.1% in the eurozone.
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