The spanish economy could grow up to 3 says cherry
To the official Government forecast is that the Spanish economy will grow by 2.5% this year, the Minister of economy and competitiveness, Luis de Guindos, pointed out that the GDP could grow to 3% in the whole of the 2015.
And is that after growing 0.8% in the first quarter of the year, the Spanish economy has registered “some acceleration”, as pointed out black cherry in Forum five days.
For the whole of the year, Cherry has been considered to be “prudent” to work with a range of growth of between 2.5% and 3%, since that is the economic consensus and also the forecast of the Bank of Spain (2.8%).
will be until the end of April when officially presents the update of its forecasts. “There are still a few weeks to refine,” said, after that they will have certain importance employment data which, in your view, will again be positive in March as they were in January and February.
Also the BBVA has revised upward its forecasts and estimates that the Spanish economy will grow 2.7% this year.
New economic environment and rebound in consumption
In any case, Cherry has ensured that the bases are placed to grow because Spain has passed the “most profound, intense, long and painful” crisis which has suffered.
In his view, the country is ready to grow a “cruising speed of 2.5% in the coming years”.
As he recalled, Spain has seven quarters growing thanks to positive surprises that plunged and domestic demand, especially consumption, which has improved thanks to the recovery of confidence, the labour market, the fall in the Euribor (which will return to 6,500 billion citizens) and the tax cut, which will return 3.5 billion.
“Is perfectly understandable this increase in consumption,” said the Minister, after also highlight the improvement of construction, which is no longer a “hindrance” to the GDP and has begun to make “slightly positive” contributions.
Drop in oil
according to cherry, the growth is “quite warranted” this year because, in addition to the factors that benefit all the European countries such as the fall in crude oil, Spain has the reduction of macroeconomic imbalances and made reforms.
In particular, highlighted the reduction of the indebtedness of the private sector, the fall in the public deficit, the cleaning up of the financial sector and the recovery of lost competitiveness.
Internationally, Cherry has ensured that a “growing link” will be of economic cycles in the world, with an improvement in Europe, a slight worsening of U.S. and Japan recession exit.
Russia and Greece
still, acknowledged that there are some as the geopolitical risks associated with Russia and Ukraine and the situation in Greece, which has to grow and assume its reforms, who does not wish to impose for ideological reasons, but the Hellenic country to the path of growth again.
According to black cherry, nobody covers the output of the euro by Greece, which would be a “failure” for all. In your view, the euro should be irreversible, can enter, but never should leave.