Spain's efforts to reform its economy are bearing fruit, Spanish Prime Minister Mariano Rajoy said here Friday at a media conference held in conjunction with the Ibero-American Summit in Panama.

The prime minister spoke during the opening of the Ibero-American Communication Forum, organized by the Spanish government and Mexico-based media giant Televisa.

He took advantage of the opportunity to repeat the message he has been disseminating in appearances at various international forums: Spain is emerging from recession.

Spain, "with the king at the head," remains committed to its Ibero-American vocation and views that mission as one of the axes of the "project of national recovery," Rajoy said.

A project, he said, to which Spaniards are devoting all of their efforts and which "is already delivering its first results."

Spain's Crown Prince Felipe was equally upbeat Thursday in his comments at the opening of the Ibero-American Business Encounter in Panama, another event timed to coincide with the summit.

"The Spanish economy is finding its way," the prince said, adding that recent progress rests on "solid foundations."

This year's Ibero-American Summit is the first one not attended by Spain's King Juan Carlos, who recently underwent hip surgery.

While Madrid is officially represented at the summit by Rajoy, Prince Felipe is to take part in the inauguration and the gala dinner. EFE