Spain’s economic recovery is gathering speed according to the International Monetary Fund, but the body has called for an overhaul of employment contracts, a rise in VAT and the introduction of healthcare co-payments.

Favourable conditions such as lower oil prices, the depreciation of the euro and a “supportive monetary policy” towards Spain by the European Central Bank, have helped Spain on the road to recovery, the IMF said.

They warned that further necessary reforms might not happen because Mariano Rajoy’s PP government is fighting to get re-elected this autumn.


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