Spain to Lift 2015 Growth Target

27 Apr 2015 | Author: | No comments yet »

Rajoy Raises Spain’s 2015 GDP Forecast to 2.9% Ahead of Election.

MADRID—The Spanish government plans to raise its economic growth target for this year to 2.9% from the current 2.4%, Prime Minister Mariano Rajoy said Monday. “These are not fireworks — one thing that characterizes my government is its prudence in making estimates,” Rajoy said in a speech in Madrid Monday. Spain’s economy is expected to keep adding jobs at a record-breaking pace this year and may continue doing so in coming years if the country sticks to sensible economic policies that made its recovery from a deep crisis possible, Mr. Rajoy said at a public event here. “Spain’s society has shown that, with good policies in place, it’s capable of meeting goals that appeared unreachable and fix problems that appeared to be beyond solution,” Mr.

Rajoy said. “Probably, each one of you here could cite the specific sacrifices you had to make all these years.” Spain faces regional elections next month and Mr. He said that if he is re-elected his priority would be to erase a budget deficit that remains among Europe’s highest, while creating over 2 million jobs in the four-year term. This unique situation in Spain’s recent history is the result of the rise of Podemos, a radical left party similar to Greece’s ruling Syriza, and Ciudadanos, a center-right party that is eroding PP’s main base of support.

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