Spain has launched a €11 billion stimulus plan intended to boost the weakening economy and create 300,000 jobs. José Luis Rodríguez Zapatero, the Prime Minister of Spain, says that the money will be spent mostly in infrastructure and public works.
A portion of the package will aim to assist Spain's auto industry, which accounts for a fifth of Spanish exports and has been hit hard by the economic crisis, having seen sales plummet 54.6% since the beginning of the year.
Spain's economy is in a sharp downturn due to a crash in the construction sector. Spanish GDP shrank 0.2% in the third quarter, the first such decline in fifteen years. Spain's unemployment rate reached 11.3% in September, a record for the European Union.
Germany launched a similar package worth €50 billion, and France is expected to launch economic measures worth €20 billion next week as well.
This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
.svg)
