IMF says Spain needs to bring down sky-high unemploymentJune 8, 2015 - 20:11 AMT PanARMENIAN.Net - The International Monetary Fund says Spain's economy is expanding rapidly and is set to grow 3.1 percent this year but that additional labor reforms are needed to bring down sky-high unemployment. According to the Associated Press, the IMF says Spain's growth spurt following bruising hardship from 2008-2013 should continue in 2016 with economic expansion of 2.5 percent. But the report issued Monday, June 8, highlighted Spain's high unemployment rate of nearly 24 percent, and a rate twice that for workers under age 25. The IMF urged Spain's government to enact more labor reforms to lower the jobless rate. It says Spain has created 500,000 jobs over the last year following labor reforms making it easier and cheaper to hire and fire workers. But the IMF added that 5 million workers remain unemployed, many of them young adults. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |