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El Pais wonders why the IMF still considers Spain to be among the Euro Area 4 peripheral countries

ElPais.com in English: IMF puts Spain in same boat as bailout recipients

Must be because Spain is enacting the same economy-killingh austerity policies, only without (or, should I say before) the "bailout".

Fund issues warning over potential "lost generation"

...

In a report on the economic recovery in Europe, the IMF predicts Spain will continue to lag behind the rest of the continent, maintaining its growth forecasts for the country of 0.8 percent this year and 1.6 percent in 2012, compared with 1.6 and 1.8 percent respectively for the euro zone.

...

The IMF expects the ongoing drop in house prices after the property-bubble burst to depress consumer spending, while investment is also expected to be dampened by the weak outlook for the economy. "Spain continues to experience a significant housing-market contraction that will hinder consumption in the near term," the report said.

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The report notes a "strengthening of national reforms" that allowed Spain to "decouple from other periphery countries in early 2011," but questioned whether the government would meet its deficit reduction targets for this year and the next. Specifically, the IMF sees the shortfall in Spain's finances narrowing from 9.2 percent of GDP in 2010 to 6.2 percent this year and 5.6 percent next year, compared with the administration's goal of a deficit of 6 percent in 2011 and 4.4 percent in 2012.



Economics is politics by other means
by Migeru (migeru at eurotrib dot com) on Fri May 13th, 2011 at 07:56:29 AM EST
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