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Structural transformation towards a more knowledge-based economy will strengthen Spain’s medium-term growth prospects. To deal with long standing impediments to higher growth the government has a substantial structural reform programme touching on education, the labour market and the business environment.
Policy efforts to revitalise entrepreneurship and investment in Spain are key to generating growth and new jobs. The government has a substantial reform program to make it easier to do business in Spain, which should in some cases be deepened. Boosting economic growth requires a new generation of high-growth companies and that resources flow towards the most productive firms.
Spain is emerging from a protracted recession, marked by a return to moderate growth and rising international competitiveness. Decisive banking and fiscal reforms, coupled with supportive monetary policy from the European Central Bank, have reduced financial tensions and improved public finance.
Structural reforms (labour market, banking, fiscal) have put the economy on the road to recovery.
The adjustment following the crisis has been particularly painful in Southern European countries, including Spain.
El ajuste producido como resultado de la crisis ha sido especialmente doloroso en países del sur de Europa, como España.
This paper provides both descriptive and empirical evidence about the main youth labour market problems in Spain. Using the experiences of other EU economies as a benchmark, we document the performance of Spain as regards a wide set of youth labour market dimensions.
Lanzamiento del Estudio Económico de España 2012 de la OCDE, Palabras de Angel Gurría
Secretario General OCDE
Spain is immersed in a prolonged recession that has been compounded by the continuing crisis in the euro area. The path to recovery has been launched, but will require full implementation of reforms and some additional measures to restore confidence in the financial sector, redress public finances and bring down high unemployment, according to the OECD’s latest Economic Survey of Spain.
OECD Secretary-General Angel Gurría welcomes the Spanish government's budget and the economic policy measures announced yesterday.