ECONOMY

Economy will grow an average 1.5% in next two years, says De Guindos

Minister also expects “relatively significant” job creation in 2014 and 2015

Spain’s gross domestic product (GDP) will grow an average 1.5% in 2014 and 2015, said Economy Minister Luis de Guindos on Wednesday.

“Everything indicates that the Spanish economy’s recovery continued in the first quarter of the year,” he added.

De Guindos claimed that for the first time since the crisis began in 2008, there will be “a sustained recovery” and net job creation that will be “relatively significant” over the next two years.

All of these figures will be reflected in the stability program review and the national reform plan to be sent to Brussels later this month, he told journalists gathered at the business reporters’ association APIE.

De Guindos also unveiled that the Treasury would issue less public debt than expected. Initial estimates were for €243.9 billion to cover 2014 maturities of over €150 billion.

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