Spain, a country with a 25% unemployment rate, public debt levels of nearly 100% of GDP and no alternative to construction as an engine of growth, has managed to become the only European economy with improved prospects for 2015, according to the International Monetary Fund (IMF).
The IMF Annual Assembly kicked off in Washington on Tuesday with mostly bad news: the global economy will grow by 3.8% next year, down from its July forecast of 4%.
But Spain’s economy will grow 1.3% this year and 1.7% in 2015, representing a gain of one tenth of a percentage point from July forecasts in both cases.
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