Spain will start early repayment offinancial aid it received for its banks from other European Union countries in 2012, an attempt to boost confidence in the euro region’s fourth-largest economy.
The government will repay 1.3 billion euros ($1.8 billion) of the 41 billion-euro rescue this year, Deputy Prime Minister Soraya Saenz de Santamaria told reporters today in Madrid after the cabinet approved a growth plan to support the recovery. Measures include a reduction in the Treasury’s net debt issuance and an increase in funding for small and medium-sized enterprises, she said.
Spain’s government forecasts 1.2 percent growth this year after the economy contracted 1.2 percent in 2013. With a quarter of the workforce still jobless, Prime MinisterSeguir leyendo