IMF upgrades Spain’s growth outlook

FXStreet (Mumbai) – The International Monetary Fund (IMF) on Tuesday evening markedly improved Spain’s growth outlook for this year, but warned that the euro area’s number four economy needs to carry out new reforms to tackle high unemployment levels.

IMF said the Spanish economy will expand 3.1% of GDP in 2015, up from a prior estimate of a 2.5% hike.

IMF said in a statement, “Spain has rebounded strongly and employment is increasing, helped by past reforms. However, the level of unemployment is still painfully high and vulnerabilities remain.”

The International Monetary Fund (IMF) on Tuesday evening markedly improved Spain’s growth outlook for this year, but warned that the euro area’s number four economy needs to carry out new reforms to tackle high unemployment levels.

(Market News Provided by FXstreet)