Spain in global economic 'Champions League': PM

12th September 2007, Comments 0 comments

12 September 2007, MADRID - (AFP) - Spain's prime minister burnished his economic credentials six months before a general election, saying his country had joined the "Champions League of the global economy" under his watch.

12 September 2007

MADRID - (AFP) - Spain's prime minister burnished his economic credentials six months before a general election, saying his country had joined the "Champions League of the global economy" under his watch.

"To make use of a sports comparison, you could say that the Spanish economy had joined the Champions League of the global economy," Jose Luis Rodriguez Zapatero said during a speech to Socialist lawmakers.

The country's gross domestic product has surpassed one billion euros (1.38 billion dollars) for the first time and is now the eighth largest economy in the world behind the US, Japan, Germany, China, Britain, France and Italy.

Zapatero's Socialist government, which is facing a general election next March that current polls suggest it should win, raised its 2007 economic growth forecast in July to 3.8 percent from 3.4.

The European Commission kept Tuesday its GDP growth forecast for Spain for 2007 unchanged at 3.7 percent but lowered its prediction for Germany to 2.4 percent from 2.5 percent and cut the French forecast to 1.9 percent from 2.4 percent.

[Copyright AFP with Expatica]

Subject: Spanish news

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