Minister for Economy, Antoni Castells, the Catalan economy to rise in the third quarter of 2010

He said that the Government will have, in 2010 a deficit of 3.25% of GDP, to 6.369 million, due to the crisis and the sharp decline in tax revenues

The Regional Minister for Economy, Antoni Castells, expects the Catalan economy to rise in the third quarter of 2010

He said it will become the economic engine of Spain. The Regional Minister in Parliament supports the proposed budgets of the Government in 2010, in a debate in which the tripartite government rejected all the amendments tabled by opposition groups, thereby giving the green light to some accounts that will be finally approved next month.

He said that the Government will have, in 2010 a deficit of 3.25% of GDP, to 6.369 million, due to the crisis and the sharp decline in tax revenues, accounts which, although dealing with an "emergency situation" and a fall in GDP in 2010 of 0.5%, have been offset thanks to the input of 2,613 million which the Government has added revenue obtained through the new regional financing system.

Catalunya is expected to continue in recession "at least" until the first quarter of 2010 and "most likely" also during the second quarter, and growth would be a reality from July.

"Everything points out that the Catalan economy can do better than, before the recession, the Spanish economy as a whole, due to its greater openness and internationalization and its further integration into the European economy, which means it can emerge from the recession" Castells said.

"We think that, perhaps once again, Catalunya will have to be engine, that shall exercise leadership in the Spanish economy as a whole," he noted.

For Castells, Catalunya has an economic model based on a "solid industrial base and a large powerful productive enterprise", a model more similar to Europe's most competitive regions such as Lombardy, Bavaria, Baden-Württemberg or Roine -Alps, the "four engines" of the EU.



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