Spain’s €15bn austerity plan is flawed, warns leading economist
The Spanish government has made plans for austerity measures based on growth forecasts that far outpace those of the IMF and EU.
Spain’s €15 billion austerity package, announced on May 12, may fail to alleviate the fiscal deficit because the government has “overestimated” growth rates and tax revenues, a leading Spanish economist has warned.
“The Spanish government forecast for growth, which is double the figure estimated by the IMF or EU, is very optimistic,” says Javier Diaz-Gimenez, professor of economics at IESE Business School in Madrid. “When you get that kind of forecast – and if you’re going to use that to design
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