The International Monetary Fund (IMF) today urged Spain to reduce its debt and deficits and maintain labor market reforms to withstand future shocks with downside risks to the economy.
The International Monetary Fund has lowered its forecast for the growth of the Spanish economy, the fourth largest economy in the euro area for 2018 to 2.7% from 2.8%. The Spanish economy is showing signs of decline after 19 consecutive quarters of growth but is still on track to stay among the fastest growing in Europe.
The International Monetary Fund said debt levels had fallen only slightly as the economy grew strongly, making the government aims to reduce the deficit to 1.8 percent of GDP in 2019.
