THE recession may have hit hard and long, but it looks like Spain may finally emerge from the downturn this year.
According to the National Institute of Statistics (INE), Gross Domestic Product in Europe could be flat or grow by up to 0.2 per cent in the third and fourth quarters.
If this prediction is correct then Spain will be out of recession this year, reaching the end-of-year target of a 1.3 per cent.
Spain’s Economy Secretary, Fernando Jiménez Latorre, comments: “We believe there’s been an important turnaround in the economic cycle and that the bases are there to continue this new trend and this will show growth, finally ending the long and deep recession.”
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