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Spain told wait for better times


Spain told wait for better times


The Organisation for Economic Co-operation has advised Spain that it should to hold off on measures to cut its budget deficit until the economy is in better shape in 2011.

OECD economists are now slightly more optimistic than in the past about Spain’s economy. They said it will likely contract by 3.5 per cent this year and 0.25 per cent in 2010. Spanish GDP was down 0.3 per cent in the third quarter.

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