Balearic economy on course to grow by two percent

The leader of the Balearic government,  Jose Ramon Bauza, said that his administration´s  austerity drive had worked and that the local economy would grow by two percent next year.
“We believe that we are one of the most reformist regional government in the country. We have reformed the local economy, cut costs and now we are enjoying the benefits,” Bauza told a meeting of business  leaders in Palma yesterday.
“Our levels of economic growth have not come about as a result of good fortune, but because of hard work and sacrifice,” he said.
“Our economy is on course to grow by one percent this year, rising to two percent in 2015.”
But he said that there was still plenty of work to do ahead. “We must continue our fight to reduce costs and keep our economic recovery on track,” he added.
“We are at a decisive point for our economic future at the moment. We are planning tax cuts for next year which will put an additional 60 million euros in the pockets of local residents.” The Balearic President went on to say that they were working closely with local companies to ensure that the economic revival continued.