The IMF revised its growth predictions for the global economy yesterday after making initial forecasts last autumn. It boosted Spain?s GDP forecast by 0.4% -- from 0.2% to 0.6% -- for this year and changed its expectation to 0.8% for 2015.
This is good but minor news, because the IMF still worries about the health of peripheral European economies. Low growth rates, which the European Commission has also acknowledged, will allow a slow increase in jobs. But the trickling rate will not do much to stop poverty from spreading. Getting out of the economic crisis could take more time and inflict more pain if Rajoy?s government does not enact the reforms it has promised.
