The IMF raises forecasts for Spain

October 6, 2010 at 3:42 pm Leave a comment

The Fund expects trouble later this year and for early 2011, followed by a modest acceleration. The world economy will grow 4.8% in 2010 and 4.2% in 2011: more than expected for this year, and less than expected for 2011. Good news for Spain, though. The IMf has slightly raised the predictions for Spain in late 2010 and 2011.

The Fund expects Spanish GDP to fall 0.3% this year to grow 0.7% in 2011. In both cases, this means an improvement in the outlook.  But barely a tenth of a percentage. The prognosis for 2010 has been improved to match the Government, and the 2011 matches that of analysts, the government expects a much higher advance of 1.3%.

That sounds like just a bunch of numbers, but they are important: if the government succeeds, Spain will meet its commitments to cut the deficit, after the drastic fiscal adjustment approved. The fulfillment of the IMF forecasts require further austerity measures to prevent attacks in the debt markets, where Spain has just emerged from a general strike prompted by the tight schedule cuts and reforms.

Advertisements

Entry filed under: Economy, News. Tags: , , , , , , .

Industrial property for sale in Madrid Iberdrola energy production increases

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Trackback this post  |  Subscribe to the comments via RSS Feed


Like us on Facebook!

Share this page on Tuenti

Kinos Group

@kinosgroup

Kinos Group on LinkedIn

International Property Listings

Videos of our properties


%d bloggers like this: