Spain's recession-hit economy will return to growth in the second half of this year, Economy Minister Luis de Guindos said yesterday. “In the third quarter it will stabilise at zero percent and in the fourth quarter it will return to growth,” de Guindos told reporters at the World Economic Forum in Davos. The minister added that in the coming weeks the Spanish government would take measures to increase access to credit for small and medium businesses. De Guindos said that the first quarter of this year would be “less bad” than the last quarter of 2012, then the second quarter of 2013 would further improve before stabilising in the third quarter.

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