- Facing deflation due to significant slack
- Credit growth to stay modest for extended period
- Spain on the road to recovery but challenges remain
“The courageous reforms enacted over the past two years are paying off. The economy is growing again, employment is rising, the banking sector has stabilised and financial markets’ trust in Spain has increased. It is now crucial to build on these accomplishments, with new efforts to enhance growth, boost productivity, further improve competitiveness and get people back to work. We also need to ensure that the recovery is inclusive and the benefits are shared: many people are still facing hardship, and none should be left behind as the situation improves.” Said OECD Secretary-General Angel Gurría
Delve into the OECD report here
The report was presented in Madrid by both Gurria and Spanish economic minister Luis De Guindos who says that the Euro economy is going through a delicate phase.
