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July 11, 2014

Spain will be ahead of Europe in economic growth in 2015

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Spain will be ahead of Europe in economic growth in 2015

Spain's Finance Minister, Cristobal Montoro, in his official statement expressed confidence that Spain will lead the topic of economic growth in 2015 among European countries.

“Currently, in Spain there is something incredible, namely economic growth of just below 2% that creates jobs for the first time in history,” assured the Spanish finance minister. Montoro also said that Spain will continue strong economic growth in 2015.

In addition, Finance Minister Cristobal Montoro, stressed this week that Spain will lead economic growth in 2015 in the European Union, with an expected GDP growth of 2.1%, in line with the forecasts of the European Commission, which is even higher than the projected figure of 1.8%, which presented the Spanish government, which according to the Minister of Finance, “was below forecasts of national and international organizations”.

During the debate in the Senate about the limit of expenditure and stability target budget for 2015, Cristobal Montoro said that the Spanish economy grew in the second quarter of 2014 by 0.4% compared with the previous quarter, which means that the annual rate of GDP growth is gaining between 1.4% and 1.5%, which is registered “for the first time in history,” and is also the basis for the creation of jobs in terms of promoting social welfare, although it is yet sufficiently “modest”.

Spain's Finance Minister also assured that we can already talk about the restoration of the economy, which began a year ago, and in 2015 economic growth in Spain will be more than 2%, which in turn will create new jobs in greater numbers due to the labor reform undertaken by the Government.

According to him also, Spain “exceeded the forecasts” and “very negative reviews” about the Spanish economy, and as has already happened in the nineties, begins again to show the world its ability to grow, develop and create jobs.

In addition, Spain's Finance Minister said that the state budget expenditure for 2015 includes a portion that is a “return of the efforts that the Spaniards did before,” and represents a reduction of income tax and corporation tax in the amount of 9,000 million euros for two years.


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