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 | Armenia-Qatar ties discussed in Doha The Secretary of Armenia’s Security Council met with the Deputy Secretary General of the National Security Council of Qatar. ARARAT special evening dedicated to Aznavour's 100th Anniv. On May 20 ARARAT legendary Armenian brandy, celebrated the centennial of Maestro Charles Aznavour with a special event. Surveying works underway in Armenia’s Kirants Surveying works are underway in the Armenian village of Kirants in the northern Tavush province. Armenia calls for prohibiting threats of attacks on nuclear facilities Armenia has raised the need for a treaty prohibiting attacks on nuclear facilities devoted to peaceful purposes. |