Spain will grow more than 3.1% in 2016, will not achieve goal deficit 2017 – Investing.com Spain

MADRID (Reuters) – The Economy minister on functions, Luis de Guindos, said on Saturday that the Spanish economy could grow this year, higher than the 3.1 percent forecast by the International Monetary Fund.

“The growth according to the Fund this year is going to be at 3.1 percent. I, my impression is that it is that figure we will overcome, that is to say, the reality is going to be better than this projection that has made the International Monetary Fund”, said de Guindos at the meeting of the IMF and the World Bank in Washington.

last Tuesday, the IMF raised its growth forecast for Spain in five-tenths to 3.1 percent.

The official screening of the Spanish Government in functions for this year is a GDP growth of 2.9 per cent, although de Guindos said last month that it would exceed 3 percent.

For its part, the Bank of Spain rose in September its forecast to 3.2 percent for this year, in line with the pace of growth last year, by the pull of consumption and the boom in the tourism sector.

But despite the solid growth of the Spanish economy, de Guindos said that Spain would not be fulfilling its deficit target in 2017 due to the political bloc of the past nine months prevented the formation of a government and the approval of a new general budgets for 2017.

In this way, the next government will be forced to extend the budget for 2016 that does not contain the measures required by Brussels to reduce the public deficit by 2017 to 3.1 percent of Gross domestic Product (GDP).

“it will Not be 3.1 percent because they can’t take measures of economic policy, but we’re not going to be too far,” he said.

legal Notice: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.