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October 17, 2014

President of the Government of Spain wishes the best to its neighbors

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Spanish Prime Minister Mariano Rajoy assured that, despite the general economic downturn in the euro zone, the country will grow more and reach the deficit target for next year. During his speech, he expressed such a wish: “I wish our neighbors were doing better than Spain.”

Giving his speech at the forum with a clear economic orientation, organized by the newspaper “Financial Times”, the Prime Minister Rajoy acknowledged that “the economic situation remains difficult,” but was overcome “the worst”, and in 2014 will be the growth of the economy and employment, “for the first time in a long time”, after experiencing the most difficult and important crisis “over the past three generations.”

The President of the Spanish Government also noted that most of the economic relations and exports of Spain are made with France, Germany, Italy, and in a lesser extent with the United Kingdom and Portugal, so the economic situation in those countries, “affects us directly,” stressed Mariano Rajoy in his speech.

The euro area has registered zero growth in the second quarter of 2014, while Spain during this period increased by 0.6%. The GDP growth that will occur in the fourth quarter 2014, said Rajoy, without giving specific figures, is calculated at less in 1.3%, and in 2% next year. Rajoy said that the Spanish economy is developing at the moment “better than in 2012 and 2013 and worse than in 2015,” and, “considering that the country will “continue to carry out the necessary structural reforms” in order to keep a positive balance of exports and the growth of domestic consumption.

In addition, the Spanish Prime Minister also made it clear that Spain will be able to achieve the established targets of the budget deficit this year of 5.5% of GDP, the rate, which decrease during the recession costed the Spanish people “enormous efforts,” recalled Mariano Rajoy.

About the problem of unemployment, Rajoy said that she is still a top priority of his government and stressed that there was a fundamental change in the labor market of the country, thus made posible creating jobs during the 2014.

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