IMF "Baseline Scenario" Projects Spain Unemployment Will Remain Above 25% for 5 Years with Little Growth
August 3, 2013Spread the love
I am normally critical of IMF forecasts, but their baseline unemployment projection for Spain of 25% or more with no more than .6% annual growth through 2017 seems reasonable. The pessimistic scenario is a toxic deleveraging downward spiral that continues right now. The optimistic scenario assumes 2% growth, but that scenario does not start until 2018, and only if labor reforms in Spain and Europe take place
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IMF "Baseline Scenario" Projects Spain Unemployment Will Remain Above 25% for 5 Years with Little Growth
