Arab Today, arab today spain forecasts stronger economic outlook in 201415
Last Updated : GMT 18:05:48
Arab Today, arab today
Arab Today, arab today

Spain forecasts stronger economic outlook in 2014-15

Arab Today, arab today

Arab Today, arab today Spain forecasts stronger economic outlook in 2014-15

Madrid - AFP

Spain forecast Wednesday faster economic growth in the next two years as the nation emerges from a long downturn with unemployment still topping 26 percent. Economy Minister Luis de Guindos said the eurozone's fourth-largest economy would expand by an average of 1.5 percent in 2014 and 2015. "It is a substantial change," he told a meeting of Spanish financial journalists. Until now, the government's official forecast has been for economic growth of 1.0 percent in 2014 and 1.5 percent in 2015. De Guindos said the brighter outlook would be incorporated into Spain's growth, deficit and employment targets for 2014-2017, which are to be submitted to the European Union. The so-called stability programme is to be approved by Prime Minister Mariano Rajoy's conservative government on April 30. The bursting of a decade-long property bubble in 2008 plunged Spain into five years of stop-start recession, which destroyed millions of jobs and flooded the economy with debt. - 'Terrifying' unemployment rate - The economy emerged gingerly in mid-2013 from the latest two-year downturn and appears now to have regained the trust of previously wary investors, with Spanish borrowing costs falling sharply on the bond market. Spain's lower financing costs, combined with higher tax receipts, would probably allow the Treasury in the next few days to lower its estimate of the money it needs to raise by issuing bonds, the minister said. Spain has estimated its net financing requirements for this year at 65 billion euros ($90 billion). "We will be clearly below 65 billion," De Guindos said. When including the cost of servicing previously issued debt, Spain has estimated financing needs for 2014 at 133.3 billion euros, of which 38.8 percent has already been covered by bond sales. "The goal is to achieve two years in a row of growth, with net job creation, and that will be the exit door from the Spanish crisis," De Guindos said. Nevertheless, jobs growth will be "clearly insufficient" in the face of the 26.03-percent unemployment rate reported by Spain for the final quarter of 2013, he said. Spain is to publish on Tuesday its unemployment data for the first quarter of 2014. De Guindos warned that job figures are generally worst in the first quarter of the year. "A country with an unemployment rate of 26 percent is starting at a terrifying level," de Guindos said. The Bank of Spain is predicting an unemployment rate still at 25 percent in 2014 and 23.8 percent in 2015.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spain forecasts stronger economic outlook in 201415 Arab Today, arab today spain forecasts stronger economic outlook in 201415

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU

GMT 16:23 2017 Sunday ,19 February

Global energy news

GMT 16:05 2017 Sunday ,19 February

Trudeau calls for wider social benefit from economy

GMT 05:57 2017 Sunday ,19 February

How do you say déjà vu in Greek?
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday