Back Warn IMF Economic Spain

International Monetary Fund (IMF) began to focus on the Spanish economy now appears to need a great effort to restore its economy. According to the IMF, now Spain is facing some tough challenges like reforming dysfunctional labor markets and the banking sector. The IMF comments came after hearing the Spanish authorities who want to help creditors Cajasur at the end of pecans yesterday. Parties

The administration must borrow money to pay for public services because of taxes and other revenues are not sufficient. It shows the economic decline of Spain. This is not the first comment from the IMF, the IMF had also previously warned Spain to reform its economy, such as the payment of employee wages.

Last week, the Spanish government has planned to set up funds of 15 billion Euros to pay the wages of workers and reduce the deficit Tertiary. In addition, Spain also had to overcome the problem of unemployment which has reached more than 20%. Amid concerns Greece and also failed to pay the Spanish crisis, 27 members of the European Union and the IMF again provided funding amounting to 750 billion Euros to overcome this crisis. 440 billion loan funds are sourced from each country, 60 billion from the European Commission funds and another 250 billion from the IMF.