On Tuesday, the International Monetary Fund presented its latest report on the Spanish economic situation, recommending higher consumer taxes and levies, lower corporate taxes, easier ways to reduce salaries of employees and lower corporate taxes amongst other measures.
The International Monetary Fund has revised upwards its growth forecasts for Spain for this year and the next but predicts that employment will continue to deteriorate.
The International Monetary Fund (IMF) has said that it would be beneficial for Spain to agree a social contract whereby employers commit to hire more staff in exchange for a 10% reduction in wages.
The IMF now forecasts that Spain will not be able to bring its public deficit back within the European Union ceiling of three percent of GDP until 2017, three years after the deadline agreed with Brussels.
Sometimes you just need a good belly laugh to brighten up the day, which was easily achieved when reading that former UK Prime Minister Gordon Brown is reportedly hoping to take on the £270,000-a-year role as head of the International Monetary Fund.
The International Monetary Fund (IMF) has once again raised concerns about Spain’s economy, advocating drastic reforms to ensure its recovery.