Spanish economic growth could exceed 2.5 pct for the next 2-4 years - Economy Minister Luis de Guindos

The Spanish economy expanded at 0.7 percent in both the third and fourth quarters of 2016. Spain maintained an economic growth of 3.2 percent in 2016, unchanged from the previous year. The economy expanded for the third straight year.

Spain's economy Minister Luis de Guindos said Tuesday that the country's economic growth could exceed 2.5 percent for the next two to four years amid faster job creation. He said that the country's unemployment rate would be below 17 percent this year versus 17.6 percent forecast earlier, as more than 500,000 jobs would be created.

Spain's government is set to present its 2107 budget on Friday, when the official macroeconomic forecasts would be updated. The 2.5 percent growth forecast for this year is likely to be maintained, de Guindos said, terming it conservative.