Spain's economy has tough outlook, but recession 'may end soon': IMF

MADRID (AFP) - Spain's recession may end soon but the outlook is tough, the International Monetary Fund (IMF) said on Wednesday, warning that the record unemployment rate is unacceptable and Madrid must go further in its economic reforms.

"While there are signs the economic contraction may end soon, the outlook remains difficult," the IMF said in an annual review of the eurozone's fourth-largest economy.