The recovery is real

CEOE and the major Spanish multinationals grouped together in the CEC (the Spanish abbreviation for the Board of Entrepreneurs and Competition), which is led by César Alierta, now predicts that the Spanish economy will grow 0.9% next year. This is two tenths of a point more than the government expects, because the CEC believes that economic data are promising and that people outside of the country are starting to see that.

The CEC also believes that now the recovery is real and even thinks that new jobs will be created. But we'll have to wait to see if this prediction becomes a reality, although with labor reforms it could be possible to create jobs with a growth level beneath 1.5%.

We need growth to happen fast and stick around. The CEC says that in order to do that, we need to enact labor reforms and lower taxes.