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May 23, 2014

Growth of the Spanish economy continues

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Growth of the Spanish economy continues

Minister of Economy and Competitiveness of Spain Luis de Guindos said at the official press conference that the Spanish economy is growing according to plan in the second quarter of 2014.

The Minister participated in a conference with the participation of 200 entrepreneurs in the Spanish province of Aragon during the campaign of “PP” in anticipation of the European elections this Sunday, accompanied by the President of Aragon, Luisa Fernanda Rudi , and on which the Minister of Spain encouraged the participants to vote in the name of the importance and significance of European policy for Spain.

Economy Minister also noted that one of the ways to achieve the consolidation of economic growth in Spain is lower taxes “and that it was evident to citizens” in a time when the economic cycle “turned around” and tax collection increased by 6 %.

After three quarters of GDP growth, “the recession is behind us”, – said Minister Luis de Guindos , who announced that in the second quarter of this year, Spain's economy will grow by at least 0.4 %, that is taken the rhythm of the last quarter of 2013.

Thus, 2014 will be “the first year in which it will be an economic recovery, GDP growth and job creation”, – all that was not registered in the country since 2008, as the minister said ,  because “many things have changed since that”.

Among them, in particular , the reduction of public debt of Spain at 300.000 million euros ; recovery of individual segments of real estate market of the country , and restoration of solvency of the financial system” , whose restructuring is already done “in a most part”.

According to the Minister of Economy of Spain, the current government has been able to take “drastic measures ” to overcome the lack of confidence and solvency of Spain in Europe.

Economy Minister also noted that the tax reform, which is currently preparing the government, will encourage long-term savings of the population from a tax point of view. Currently, tax incentives for long-term savings are focused on pension plans.

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