Spain raises economic growth predictions amid positive economic trends
Date
7/16/2024 7:14:50 AM
(MENAFN) The Spanish government has revised its economic growth forecast upwards, projecting a GDP growth rate of 2.4 percent for 2024, up from the previous estimate of 2 percent. This adjustment reflects the strong economic performance observed in recent months, as announced by the Minister of Finance.
In an interview with El Pais, Economy Minister Carlos Cuerpo highlighted that the government will maintain its growth forecast of 2.2 percent for 2025 in the upcoming macroeconomic projections, scheduled to be adopted by the cabinet on Tuesday. Cuerpo expressed optimism about a significant reduction in the unemployment rate in the near future, anticipating the creation of "more than one million job opportunities" between 2024 and 2025.
The minister attributed the revised forecasts to the favorable outcomes achieved by the Spanish economy since the beginning of the year, driven notably by robust exports and increased investments. These factors have contributed to bolstering economic activity and are expected to sustain growth momentum going forward.
The Spanish government's optimistic outlook underscores confidence in the resilience of the national economy and its capacity to navigate challenges while fostering sustainable economic expansion. As policy measures align with evolving economic conditions, stakeholders will monitor developments closely to assess the impact on employment dynamics and overall economic stability in Spain.
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