Spain On Right Fiscal Path, Rajoy Insists

Spain’s Prime Minister Mariano Rajoy has recently announced that the country’s public deficit for this year will stand at 6.7%, insisting that this is the result of "an enormous effort by Spanish society as a whole."

Rajoy underlined the need to focus on "maintaining an economic policy, fiscal consolidation, structural reforms and continuing with the reform of the banking sector," pointing out that this will put Spain in a position to grow and to create jobs.

According to Rajoy, the most important issue is to implement an economic policy capable of producing growth and jobs. Furthermore, it is vital to continue efforts to clean up the financial sector, Rajoy stressed, emphasizing that this is "highly important for the availability of credit and therefore investment in employment." He added that "clear improvement has been already made to competitiveness, as can be seen from the balance of payments."

Highlighting the fact that "confidence in Spain is growing," which again confirms that the Government’s economic policy is "the right policy," Rajoy stressed that 2013 will be the last year of recession and that the situation will begin to improve in the second half of the year, which will "have a positive effect on employment."

Source: Tax-news.com