Economic Research Institute (IEE) predicts that next year will be “spectacular” for Spain and expects GDP growth of 1.4% this year, which will accelerate to 2.5% in 2015, that will be caused basically by the reduction of taxes and interest rates and especially the fall in oil prices, which means more revenue for Spanish households, lower energy costs for businesses and reduction of the trade deficit.
This was stated by the president of IEI, Jose Luis Feito, at the official press conference, where it was presented the final document “The economic situation,” and he even said that there is a “very high probability” that Spain's GDP will exceed 2.5% next year. “This figure will be the base, but not a ceiling,” explained Jose Luis Feito, claiming that 2015 would be “spectacular” year for the country.
According to the Institute for Economic Research (IEE), the Spanish economy is recovering and gaining strength, which significantly improves the prospects for 2015. Furthermore, Faith is convinced that other national and international institutions are also reviewed in the coming weeks upwards their estimates Spaniard economic situation.
In his opinion, if 2013 was a year of stabilization and the beginning of recovery, 2014 was a year of consolidation and approval of the recovery, as shown by the official data, such as gross capital investment in real estate, funds and other assets, the evolution of exports and strengthening of national consumption recovery.
In addition, the housing sector has stabilized and particularly has stopped falling sales of real estate and its prices, which contribute to the recovery of construction activities to meet the increased demand.
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