Off the wire
• Security forces repel IS attack in western Iraq, clashes continue in Ramadi  • Report says airstrike kills 12 children in Syria's Aleppo  • Interview: IMF boss upbeat about Cameroon's economic performance in 2016  • China, Bulgaria sign deal to jointly combat transnational crime  • Spain's industrial production rises by 5.7 pct in Nov.  • Danish inflation hits record 62-year low  • China-Egypt cultural exchange year to celebrate 60 years of diplomatic ties  • Kenya, Canada to sign investment promotion deal  • Racism remains an issue in S. Africa: Presidency  • Kenya eyes better performance at Rio Olympics  
You are here: 　 Home

Spain's economy to grow by close to 3.5 pct in the beginning of the year

Xinhua, January 11, 2016 Adjust font size:

Spain's acting minister of economy and competitiveness, Luis de Guindos, said on Monday that Spain's economy would grow by close to 3.5 percent in the beginning of the year.

De Guindos made this statement on a local radio station where he said several indicators, such as industrial production or car sales, led to the conclusion that the Spanish economy would grow by close to 3.5 percent in early 2016.

He also emphasized the good performance of job creation in the last quarter in 2015, and recognized uncertainties surrounding the Spanish stock market index Ibex-35 that has been suffering losses over the last days.

According to De Guindos, the index has been affected not only by the uncertainties at a global level, but also by the political uncertainty in Spain since the general elections on Dec. 20 when the main political party, the People's Party (PP), failed to win a majority to form government.

The acting minister said future economic policies was the key question, stating "the markets want stable and strong governments." According to him, a coalition including the PP, the Socialist Workers' Party, and the right-wing Citizens party would be the best option for Spain.

He warned about the lack of confidence that could emerge from this political situation and the economic policies of a new government.

The Spanish government predicted a 3.0-percent growth for 2016, while the International Monetary Fund (IMF) and the European Commission (EC) forecast respective growths of 2.5 percent and 2.7 percent for the country. Endit