Madrid - Spanish Prime Minister Jose Luis Rodriguez Zapatero on Wednesday admitted that the country's economy was facing "hard and complicated" times, but stressed its resilience and capacity to cope.
The economy was "practically stagnant," Zapatero admitted on explaining economic policy to parliament, and called for a collective effort to deal with the difficulties.
The inflation, now running at 5.3 per cent, would drop under 4 per cent by the end of the year as oil prices went down and consumer confidence increased, the premier predicted.