Sat. Apr 20th, 2019

Spain is one of the great economies that resists global braking

Spain is one of the great economies that resists global braking



Spain is one of the "great economies that resists despite the difficult environment and global slowdown," said today the Spanish Minister of Economy, Nadia Calviño, who participates in the spring assembly of the International Monetary Fund (IMF).

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"I see a very positive assessment of the economic situation in Spain," Calviño told a news conference.

"We are perceived as one of the great economies that are resisting well this less positive environment in the international arena, (of the) that grows the most," he said.

The IMF released its global forecasts this week, and kept Spain at the forefront of growth among the largest economies in the euro zone with 2.1% for this year, although it dropped one tenth against the estimate three months ago.

For 2020, the Fund forecast an expansion in Spain of 1.9%.

Calviño pointed to the causes of the global slowdown, the commercial tensions between the United States and China and the doubts about the "Brexit".

The Fund lowered the forecasts for this year of global growth by two tenths from those of three months ago to 3.3%, with a marked reduction in the euro area, Latin America and, to a lesser extent, in the United States.

On the other hand, he highlighted the "clear commitment" of the Spanish Government to advance in fiscal consolidation and debt reduction.

"We have not been able to go further because of the lack of approval of budgets," said the Spanish minister, noting that the public deficit will close this year around 2.6% of gross domestic product (GDP).

He stressed, however, that this adjustment of public accounts should be done "gradually" so as not to affect economic growth.

Calviño also participated in the meeting of G20 ministers that took place on the fringes of the IMF and World Bank (WB) spring assembly, which concludes tomorrow Sunday and brought together the economic leaders of its 189 member countries during the week in Washington. .

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