Spain’s economy minister confident crisis over despite high inflation – EURACTIV.com


A message of moderate optimism about the chances of the country’s economy returning to pre-crisis levels was conveyed on Wednesday by Spain’s Economy Minister Nadia Calviño.

Speaking at a digitalization conference in Madrid on Wednesday morning, Calviño said the left-wing coalition government had already implemented a series of special measures to mitigate the impact of the crisis.

Among other things, she recalled the recent reform of the labor market and the measures approved to reduce the price of the energy bill, partner of EURACTIV ECE and finance on a daily basis Cinco Dias reported.

She asked Spaniards to trust “in ourselves” and asked all parties – mainly the centre-right opposition Partido Popular (PP/EPP) – to unite in the same direction.

Spain’s GDP will grow by around 4% this year and 2% next year, above other EU countries, the minister said.

She also highlighted the performance of the labor market with more than 20 million workers affiliated with social security and the number of unemployed less than three million, “a success that exceeds forecasts”, she said.

However, she recalled that the high inflation due to the war in Ukraine remains a major concern for the government.

The minister recalled that before December this year, the government planned to submit an addendum to the Spanish recovery plan to mobilize an additional 7 billion euros in transfers – on top of the almost 70 billion euros included in the plan – and 84 billion euros in loans. .

Despite the optimistic tone, on August 30 Calviño warned that Spain could face a new round of energy price hikes from September despite a significant drop in inflation in August due to the drop fuel prices.

According to new data released in August by Spain’s National Statistics Institute (INE), although fuel prices have fallen compared to the same period in 2021, electricity, food, restaurants and travel packages have become more expensive.

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