Central government assures that real recovery from recession will be on the way by mid 2010

PALMA
GOVERNMENT forecasts for an improved economy in the second half of next year are on track, said Octavio Granado, Secretary of State for Economy and Social Security during a visit to Palma yesterday.

Speaking at an “Autumn School” conference organised by Majorcan Socialists, Granado gave confident assurances that the “worst of the crisis is over” and predicted that from the middle of 2010 “we will start to see growth in the economy and dole queues will start to decline.” The Secretary of State reported on growth figures which had been forecast for the member states of the European Union for 2009 and said that “no-one had envisaged that the decline in Spain's economy would average out across the regions at only 0.3 percent.” Granado also claimed that the countries in the EU which were now emerging from recession were ones which sunk into it earlier than Spain. “We are bound to revive later because we fell prey to the crisis later,” he pointed out.