Brussels not as optimistic as Rajoy

EU commissioner for Economic and Monetar

[Traducción del artículo original]

The government predictions of the European Commission have worsened for the coming years by questioning those of Rajoy and the his and his government’s ability to face the economic crisis. This was announced by Olii Rehn, European Commissioner for Economic Affairs. He also admitted that Spain could meet the deficit target. Brussels believes the 1.5% of GDP will fall back (the Ministry of Economy expected to 1.3%) and that the deficit will be around 6.5%. These two figures are two tenths more than expected by the Government of Spain. As for the unemployment rate, Brussels is more or less in agreement with Spain and also believes that unemployment is around 27% in 2013.

Rehn named Spain and Greece as countries with high level of unemployment and requests of them that they do everything within their ability to stop this. However, while the European Commission makes these requests, it recommends reducing the deficit and debt with measures such as cutting back on active labor market policies, as Spanish government is already doing.

It is to be remembered that Brussels did not yet have the reform plan Spain has just sent them, nor the 3 billion euros of provided adjustments. It is still too early to make predictions for 2014 we still await the effects of the measures taken by the Government; measures that will be evaluated by Brussels in late May.

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