Business

Spain economic recovery ‘gathering pace’

By Ciaran Giles
Published April 30, 2014 12:50pm ET
Add Washington Examiner on Google
Spain economic recovery ‘gathering pace’
People wait for a government-run unemployment registry office to open, in Madrid, Spain, Tuesday, April 29, 2014. Spain's National Statistics Institute said the unemployment rate edged up to 25.9 percent in the first three months of the year from 25.7 percent in the previous quarter, a sign the recovery is still weak. The institute said Tuesday the number of people out of work fell by 2,300 in the January-March period, leaving the total number of unemployed at a rounded 5.9 million. (AP Photo/Paul White) | Paul White

MADRID (AP) — Spain’s economic recovery will gather pace this year but unemployment is set to remain above 20 percent until 2017, according to government predictions Wednesday.

Economy Minister Luis de Guindos said Spain’s economy should grow by 1.2 percent in 2014 and 1.8 percent in 2015 as the country recovers from a double-dip recession that ended late last year and destroyed millions of jobs. The growth figures were upwardly revised from the previous predictions of 0.7 percent and 1.5 percent.

Already a print subscriber? Click here to login/register your account

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.