Spain: PM Rajoy Stresses Country Will Meet Deficit Target


Upon his arrival in New York, where he will take part in the UN Security Council, Spanish Prime Minister Mariano Rajoy responded to the European Commission’s forecasts on Spain for the coming year. Rajoy stressed that the deficit ceiling set will be met.

“We are very calm because Spain has recovered economic activity,” Rajoy said.

In response to questions from the press, Rajoy referred to the warnings from the European Commission about the Spanish public accounts for 2016. In this regard, Rajoy claimed that “Spain will not miss the deficit target”.

According to Rajoy, “Spain has recovered economic activity, Spain has recovered jobs and this has all led to increased revenue, and hence, we can and will meet the deficit target.”

“For that reason, I am very calm, as indeed are the Spanish people, in knowing that we will meet the deficit target,” Rajoy added.

Rajoy recalled that, since he came to power, “we have always met the deficit target,” and added that the European Commission was “probably” thinking “about other times in which we deviated by up to three points.”

Furthermore, Rajoy underlined that this year the Spanish economy will grow by “more than double” the rate of other major European economies.

According to the forecasts from the International Monetary Fund, Europe as a whole will grow this year by 1.5%, whereas Spain, in contrast, will grow by 3.1%, Rajoy said.

The Spanish Prime Minister also pointed out that Spain is the EU country that is creating the most jobs.

“I believe that in the next four years, unless we change economic policy, we can create some 2 million jobs at a rate of half a million a year,” Rajoy said.

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