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Spain Economy Minister Says Growth May Exceed 2.5% For Next 2-4 Years

Spain's economic growth could exceed 2.5 percent for the next two to four years amid faster job creation, Economy Minister Luis de Guindos said Tuesday.

The country's unemployment rate would be below 17 percent this year versus 17.6 percent forecast earlier, as more than 500,000 jobs would be created, the minister said.

The government is set to present its 2107 budget on Friday, when the official macroeconomic forecasts would be updated. The 2.5 percent growth forecast for this year is likely to be maintained, de Guindos said, terming it conservative.

The Spanish economy expanded 0.7 percent each in the third and fourth quarters of 2016. In the whole year 2016, growth was 3.2 percent, same as in 2015. The economy expanded for the third straight year.

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