The Spain saw its rating raised by Standard & Poor’s – Les Echos

This is a good point for Madrid. Standard and Poor’s rating of “improving growth and competitiveness, the result of efforts of structural reforms undertaken since 2010.” Has taken up a notch the rating of Spain. This rating changes from “BBB-” to “BBB”.

stable outlook, reflecting our opinion that the following risks associated with the Notes Spain remain balanced in the next two years, “said S & P in a statement. The rating agency also noted the short-term rating of A-3 to A-2, has revised upwards its forecast for average growth in real GDP from 2014 to 2016, carrying 1.2% to 1 6% as a result of various reforms in the country.

“Preliminary figures (the European statistical agency) Eurostat for the first quarter show that Real GDP grew by 1.6% yoy. This figure can be significantly revised, but it still seems supported by a gradual recovery in employment in a growing number of sectors “activities, according to S & P.

unemployment, the principal scourge of the Spanish economy, remains at very high levels. According to various official methods of calculation, the country has between 4.7 million and 5.9 million job seekers, for an unemployment rate of 25.93% in the first quarter, close to the historical record (26.94% the first quarter of 2013) and one of the highest in the industrialized world.

however showed signs of reflux. In April, the fourth largest economy in the euro area has seen the number of unemployed to decline by 2.33%, prompting the prime minister Mariano Rajoy to speak of “change in trend.”

“From our point of view, the recent reforms liberalizing opening hours of retail, the fixed-term contracts and start-ups, also seem to support the recovery,” said Standard and Poor’s.

Spanish National Institute of Statistics, however, noted a worrying decline in the labor force, while the number of jobseekers, discouraged and abandon their research or leave the country.

unions denounce them, the rise of precarious employment, with many temporary positions and time partial.

Netherlands and Turkey have their ratings confirmed

Standard & Poor’s has confirmed the ratings long and short term the Netherlands at AA + / A-1 +, and those of Turkey or BB + / B, but the first carry a stable outlook, while seconds remain assigned a negative outlook.