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Spain: fast growth with high unemployment



The rate of growth of the Spanish economy in the first quarter exceeded the forecasts.



04.May.17 1:30 AM
By Christina Orlina
Photo Toinnov.com

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Spain: fast growth with high unemployment
The rate of growth of the Spanish economy in the first quarter exceeded the forecasts. According to the National Bureau of statistics, it was 0.8%. In the previous quarter it was 0.1% lower. During the year the economy grew by 3%.

The government, Central Bank and the international monetary fund predicts that by the end of the year growth will be 2.6%. It has been going on for four years in a row, because of export growth.

But the new jobs have lower qualifications and are paid less than in the pre-crisis period. According to the statistics, the Spaniards, job seekers now get 24% less than people who work a few years ago.

Despite production growth in the first quarter registered an increase of unemployment, which is now one of the highest in the EU. It grew up to 18.75%.



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