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BY JONATHAN HOUSE
MADRID—Mariano Rajoy is adjusting the medicine for one of Europe’s sickest economies.
The Spanish prime minister, when he took over 16 months ago, attacked bloated budget deficits by cutting spending and raising taxes. The deficit has indeed shrunk under this treatment, yet on Friday, Mr. Rajoy’s government is expected to lay out an agenda that tilts away from austerity—putting new priority on spurring growth.
Behind the move is a continued slide in Spain’s fortunes. Its jobless rate leapt a full point Thursday, to a depression-like 27.2%, and the central bank sees the economy shrinking 1.5% this year.
On Friday, the …
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More here: Still Sputtering, Spain Turns Away From Cuts
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