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April 24, 2014

Spain’s economic growth exceeds forecasts

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Spain’s economic growth exceeds forecasts


Minister of Economy and Competitiveness of Spain Luis de Guindos at an official press conference on Wednesday assured journalists that Spain's GDP will increase in 2014 and 2015 by an average of 1.5%. The Minister stressed that in the first quarter of 2014 the economy continued the positive recovery trend that began in the last quarter of 2013.

At the meeting, organized by the Association of Journalists of Economic Information (APIE), Minister de Guindos assured that the first time since the economic crisis began in 2008 , we can talk about sustainable recovery and reconstruction of the Spanish economy , as well as the creation of new jobs , which will be ” significant enough ” for the next two years.

All these data , according to the Minister, will be presented in the official report on the passage and implementation of the stabilization program and national reform plan, which will be sent to Brussels at the end of this month.

In any case, the Minister of Economy of Spain in response to the question avoided to call a specific figure for GDP growth in Spain in 2014 . The Government of Spain actually names and works with indicators such as 1% of GDP growth in 2014, the Minister stressed that “the most important thing is not a separate tenth , and the fact that average growth of 1.5% over the next two years, the economic development Spain will be substantially different from the previous process”.

In addition, the Minister of Economy said that the forecasts and data on GDP growth in Spain would not be exaggerated in the official report, as they will lose credibility so that the government can not afford. “We will not do this , as we did not do this last year when the real data exceeded forecasts of the Government of the country”, – concluded the Economy Minister Luis de Guindos .

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