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Bank of Spain governor supports current economic polices

Bank of Spain governor supports current economic polices

(20 August 2015 – Spain) Bank of Spain governor Luis Maria Linde told the Spanish parliament on 18 August that he endorsed the Spanish government’s economic policies ahead of the general election. 

Linde said that changes to labour-market rules introduced by Prime Minister Mariano Rajoy had boosted the pace of job creation and maintenance of the government’s current fiscal policies was crucial for economic growth.

“Doubts over whether the efforts in macroeconomic, fiscal and financial rebalancing will continue could put an end to or reverse the progress made,” Linde said.

He also said Spain’s economy could grow more than 3 percent this year and next with the right policy mix.

Spain is continuing to build its economy following austerity measures it was forced to implement in return for a bailout of the banking system by the European Union.

The ruling party, the People’s Party is currently down in pre-election polls due mainly to the austerity measures and allegations of corruption against the Prime Minister and the Party.a

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