02.06.2014 9:24

Spain allocate to stimulate the economy $ 8.6 billion

The Spanish Government has prepared a package of incentives worth $ 8.6 billion to boost competitiveness. This was stated by Prime Minister Mariano Rajoy .

According to Rajoy , means for stimulus measures were obtained from both the private sector ( 2.7 billion euros) , because of the state ( 3.6 billion euros)

While corporate tax in the country has been reduced from 30% to 25 %.

” The idea is that taxes should be reduced . Goal is to leave more disposable income in the hands of families, to increase the competitiveness of the economy, increase savings and above all to increase employment ,” – he said.

Recall Spain’s economy grew in the I quarter of this year amid rising government spending and households.

GDP grew by 0.4% in January-March Quarter, according to National Statistical Agency . Rate of growth accelerated during the reporting period compared to the IV quarter due to growth in household spending .

Earlier, the international rating agency Standard & Poor’s raised the sovereign rating of Spain to the level of “BBB” from “BBB-” from “stable ” outlook , which was one notch above ” junk” level .

After the release of the Spanish program of financial assistance from the EU in the current year bond yields countries has declined steadily and reached historic lows . Rally in government bonds of Ireland , Portugal and Greece also instilled optimism investors.