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Spain's economy likely to grow by 2.5 pct in 2017: OECD
Last Updated: 2017-03-15 09:32 | Xinhua
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The Spanish economy is likely to grow by 2.5 percent this year, the Organization for Economic Co-operation and Development (OECD) reported on Tuesday.

The OECD revised up its economic predictions for Spain, from the previous 2.3-percent growth to 2.5. Predictions for 2018 remained unchanged at 2.2 percent.

The organization expects that domestic demand will continue to play an important role in Spain's economic recovery along with a better situation of the country's labor market and investment.

According to the OECD, Spain's unemployment rate would fall to 17.5 percent in 2017 from the 19.6 percent of 2016, falling further to 16.1 percent in 2018.

Spain's Minister of Economy and Competitiveness Luis de Guindos said that the OECD information was "balanced".

"The efforts, correction of unbalances and perspectives are good, but we have to be aware of the vulnerabilities we face," he said.

The Spanish government predicted a 2.5-percent growth for 2017 and a 2.4-percent expansion for 2018.

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