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Spain Growth at 3.2% in 2016
Spain Growth at 3.2% in 2016

Spain Growth at 3.2% in 2016

Spain Growth at 3.2% in 2016

Spain’s economy is expected to grow 3.2% in 2016, for the second year in a row, but slow to 2.3% in 2017 as the benefits of lower oil prices, a weaker euro and fiscal stimulus dissipate, the International Monetary Fund said Tuesday, MarketWatch reported. The IMF, in preliminary findings at the end of a country visit, urged the Spanish government to act to sustain one of the strongest economic recoveries in the eurozone. The body called for Spain to reduce the fiscal deficit and public debt, create jobs for the long-term unemployed and help small- and medium-sized companies achieve better productivity. The growth projections are in line with those of Spain’s central bank. The IMF recommended an annual reduction of about 0.5% in the country’s fiscal deficit, which Spanish officials say will close 2016 at 4.6%—one of the highest deficits in the eurozone.

 

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