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  HOME | Business & Economy (Click here for more)

Rajoy: Spain Emerging from Crisis with “Healthier and Stronger” Economy

PANAMA CITY – Spanish Prime Minister Mariano Rajoy told the heads of state and government gathered here at the 23rd Ibero-American Summit that the Iberian nation “is now emerging from its crisis with a healthier and stronger economy,” crediting Latin America with playing a very important role in that recovery.

Rajoy said Saturday at the first working session of the summit that all the anti-crisis measures that have been adopted were yielding positive results.

“I can assure you that Spain is now emerging from its crisis with a healthier and stronger economy, and although there are many things left to do, we have the will and the determination to do them because that will provide us with guarantees going forward, sustainable and stable growth, job creation and a better standard of living for our citizens,” the premier said.

In that regard, he attributed Spain’s recovery from its “serious economic crisis” to his government’s “broad-based and ambitious plan of structural reforms.”

“We’re laying the foundation so our economy is more competitive and flexible, capable of growing and creating employment,” he said.

The prime minister said his government’s policy measures had focused on fiscal consolidation at all levels of government, an ambitious program of structural reforms and an in-depth reform of the financial system to guarantee banks’ solvency.

He said all those measures were already yielding positive results in terms of reducing the deficit, making Spain’s export sector more dynamic and restoring market confidence.

Having emerged from recession this year, the economy is forecast to grow 0.7 percent in 2014, Rajoy said, citing his government’s projections.

While Madrid is officially represented at the summit by Rajoy, Prince Felipe took part in Friday’s inauguration.

This year’s Ibero-American Summit is the first one not attended by Spain’s King Juan Carlos, who recently underwent hip surgery.


 

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