the olive press
Spain's best English daily news website
Saturday, December 20, 2014
Subscribe: RSS or Email

Spanish economy making ‘strong progress’

PUBLISHED: June 20, 2013 at 1:15 pm  •  LAST EDITED: June 20, 2013 at 1:15 pm
Lead, National News  •  6 Comments

Spanish economy making ‘strong progress’

Do you have news for us?
Click to contact the newsdesk!

FOLLOWING years of struggle, Spain is now making strong progress towards fixing its crippled economy.

This is according to the International Monetary Fund (IMF), which has said it expects the country’s economy to start to grow later this year.

However, the IMF warned that the next few years will be tough, and said Spain still needs to do more to boost job creation and shield its banks from recession.

“Strong reform progress is helping stabilise the economy and external and fiscal imbalances are correcting rapidly. But unemployment remains unacceptably high and the outlook is difficult,” the IMF said in its report.

“This calls for urgent action to generate growth and jobs, by both Spain and Europe.”

Unemployment has risen steadily across the European Union since the start of the economic crisis, reaching unprecedented levels in Spain this year.

Joblessness in Spain stands at 27.2%, with more than six million people currently out of work.

The IMF said the Spanish government’s main priority should be to reform labour laws further, making it easier for companies to change working conditions rather than dismissing employees.

It also urged Spain to provide more training to young and unskilled people to help them into employment.

Prime Minister Mariano Rajoy has previously said he is unwilling to amend last year’s labour reform, which resulted in two general strikes in the space of just six months.

But the prime minister has now agreed to an overhaul of state bureaucracy by cutting red tape and closing redundant institutions – although he has not made it clear whether reforms would mean job cuts.

Did you like this? Share it:

Reader Comments »


June 20th, 2013 2:12 pm



June 20th, 2013 2:47 pm

What’s going on here?


June 20th, 2013 5:08 pm



June 20th, 2013 7:10 pm

Has this turned into Viz magazine?


June 23rd, 2013 2:51 pm

I do concur to the notion of reforming some labour laws. The organisations should rather change working conditions than dismissing workers.

Susil Gupta

August 2nd, 2013 1:58 am

How can the economy be recovering when so many economic indicators are plummeting? Cement production down 22% computer sales down 47%. Car sales down 25% Company failures at an all time record. Every other shop on the high street closed. House prices set to plummet 70% from their 2007 high.

There is only one reliable indicator of economic recovery: people stop talking about it.

Spain cannot recover: too many large problems all at once.

The views expressed in the comments above are those of our users and do not necessarily reflect the views of the Olive Press.

Messages will be moderated or deleted if they:
• Are considered likely to disrupt, provoke, attack or offend others
• Are racist, sexist, homophobic, sexually explicit, abusive or otherwise objectionable
• Contain swear words or other language likely to offend
• Break the law or condone or encourage unlawful activity. This includes breach of copyright, defamation and contempt of court
• Advertise products or services for profit or gain
• Are seen to impersonate someone else
• Include contact details such as phone numbers, postal or email addresses
• Describe or encourage activities which could endanger the safety or well-being of others
• If you have a complaint about a comment please email [email protected]

 Back to the Top

Read Our Latest Print Edition »

Read More Olive Press Back Issues Online »