Spain''s successful economic reforms makes it immune against financial crisis - Min.

MADRID, Nov 25 (KUNA) -- Spanish finance Minister Elena Salgado said Spain's economic reforms and austerity measures undertaken during the global Economic crisis led to the national economy recovery and the reduction on public deficit.
A statement by the Ministry quoted Salgado as saying in a meeting of business leaders and executives of the biggest Spanish companies Thursday, that her country was in safe of economic dangers that threaten the region, and there is no risk the Spain will need a financial rescue package.
She added that it was still too early to assess the results of some taken reforms, such as the labor market reform, which will undoubtedly create more jobs and boost economic development during the first semester next year.
The Spanish government had taken last May a series of measures and austere economic policies to reduce the economic crisis effects and to face the deficit in the state budget which stood at 3.9 percent of GDP recorded last September.
Meanwhile, Salgado said that the announcement of Ireland's economic details of its plan for the next phase would ensure financial stability in the EU and the Euro Zone, and will surely relieve the pressure on financial markets and reinforce investors' confidence.
Dublin announced Wednesday its strict austerity plan aiming at providing 15 billion Euros by 2014. (end) hnd.bs KUNA 252101 Nov 10NNNN