2 Jun 2014
Spain plans to announce economic stimulus package
FXStreet (Bali) - Spanish Prime Minister Mariano Rajoy is about to officially announce a €6.3 billion stimulus package, aiming to improve the conditions in the jobs market while reducing the risks of further deflation in the country.
Mr. Rajoy, in a conference in the town of Sitges, near Barcelona, told business leaders that Spain will, on Friday, provide further details of the plan, with sources suggesting that its implementation will start from the second half of this year.
Among the measures thought to be approved is to lower taxes, with Rajoy saying that the main corporate tax rate will be reduced to 25% from 30%, adding that "we are looking to increase disposable income for families, invigorate consumption, improve economic competitiveness, boost savings, and especially, contribute to the increase in employment."
Mr. Rajoy, in a conference in the town of Sitges, near Barcelona, told business leaders that Spain will, on Friday, provide further details of the plan, with sources suggesting that its implementation will start from the second half of this year.
Among the measures thought to be approved is to lower taxes, with Rajoy saying that the main corporate tax rate will be reduced to 25% from 30%, adding that "we are looking to increase disposable income for families, invigorate consumption, improve economic competitiveness, boost savings, and especially, contribute to the increase in employment."