MADRID, Sept. 23 (Xinhua) -- The Spanish economy is going out of the crisis, said Monday the Spanish Secretary of State for Trade, Jaime Garcia-Legaz.
Garcia-Legaz made this statement during his speech at the II Spanish-Moroccan Parliamentary Forum being held on Monday and Tuesday in Madrid.
The Secretary explained that the second quarter of 2013 would "probably" be the last one of economic recession, while predicting that Spain would experience economic growth in the third quarter.
And the growth is expected to continue the following months with more intensity, throughout 2013 and 2014.
He attributed the growth to austerity policies implemented by the government of Mariano Rajoy.
He said these policies helped correct imbalances within Spain's public accounts and made the country more productive, competitive and flexible. He particularly emphasized the effects of the labor reform which, in his opinion, will help to transform economic growth into job creation.
PwC (PricewaterhouseCoopers) on Monday predicted a 0.4 percent growth for Spain in 2014, while stating that the Spanish economy would grow by 1.79 percent between 2015 and 2019.
The Spanish government had expected the economy will grow this quarter, as confirmed by Spain's Economy Minister two weeks ago when he said Spain would leave economic recession behind in the second semester because the Ministry had advanced data indicating that Spain was recovering.
Although the government warned the recovery will be weak, the International Monetary Fund (IMF) has a more pessimistic opinion and forecasted that Spain might not return to growth until 2015.