Spain’s economy: The worst may be over

Posted: October 11, 2013 in economy
Tags: , ,

UK Only Article: 
standard article

Issue: 

The gated globe

Fly Title: 

Spain’s economy

Rubric: 

Mariano Rajoy predicts economic joy, but Spain still has a long way to go

Location: 

MADRID

Main image: 

20131012_EUD001_0.jpg

THE Prado museum, lined with works by Goya, Velázquez and El Greco, is a sanctuary of peace in busy central Madrid. When the museum advertised for eleven gallery attendants recently, it also seemed the perfect refuge from Spain’s job-starved economy: 18,700 people applied.
As Spain timidly emerges from a blistering double-dip recession that has ripped 7% out of GDP over five years, job-seekers remain desperate. Unemployment is stuck at 26% and emigration is picking up. So will the recovery create jobs and send Spain into a virtuous cycle of increased domestic consumption, a higher tax take, healthy public finances and more jobs?

Presenting next year’s budget on September 30th, Cristobal Montoro, the budget …

via Economic Crisis http://www.economist.com/news/europe/21587811-mariano-rajoy-predicts-economic-joy-spain-still-has-long-way-go-worst-may-be-over?fsrc=rss

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