“Economy is weaker than it looks”

Jordi SevilleFormer Minister of Socialist Economy and Senior Advisor of Economic environment of Lorente and Cuenca has given a clarion call to Political class Due to the current macroeconomic situation in Spain. asks the former minister “Attack of Common Sense” For politicians, without referring to any particular party, in his view as an LLYC expert, “The economy is very weak What does it look like”.

“We live Confused moments There are no chaotic moments in politics and the economic situation”, begins his monthly analysis of the economic environment. The expert recognizes that Spain’s economy is growing faster than the European average, But he includes a nuance in his study: “Within a clear and continuous general trend Slow down”. “We do it with feet of clay because others, from outside, make us grow on that basis Exports Y al Tourism. “External demand pulls us, but with less and less force,” the economist explains about the Spanish macroeconomic situation.

“He is leaving us A healthy dues situation This allows the reduction of foreign debt, which is positive” – ​​continues the former Minister of Economy and Head of Public Administration- “but at the same time reinforces the already growing debt. dependence Our economy in terms of sector Services, whose boom was indicative of the role played by construction at the turn of the century. The expert warns of a “bias” and this situation is precisely what Spain was in a bad place after the health crisis Corona virus. Seville now warns that the national commitment to a “green and digital economy” will not have a significant impact “Not for productivity, GDP or employment.”

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Spain’s economy grows due to external demand

Precisely this Monday, the National Bureau of Statistics (INE) have published the progress of National stability Year 2022, Improving GDP data (GDP) 2022. According to the official statistics of the Bureau of Statistics, the GDP National progress a 5.8% speed Compared to 2021, Spain improved all forecasts and put the economy at the top of the European rankings. Statistics also reviewed the growth of GDP 2021, With more than nine out of ten up to 6.4%.

Data published this Monday by INE already confirms this Recovery Total PIB Prepandemic In the national economy. 5.8% in 2022 and 6.4% in 2021, with increases over the past two years. – Continuing courses An 11% fall in 2020 was reversed – data confirms the worst is over. However, the data confirms the former minister’s warning that, in 2022, the contribution was lower than expected. national demand, 2.9% compared to the previously estimated 3.1%, and higher external demand, 2.9% compared to the initial 2.4%.

Seville warns of the impact of inflation on “the humblest families”.

He Senior Advisor The economic environment of Llorente and Cuenca warns in its monthly report inflammation He admits that it is lower than the European average—“hitting the purchasing power of Humble families”. “We came out of this crisis Two social speeds, This reduces the purchasing power of most households. Reduce your savings And it makes it even more difficult for them to access expensive basic goods,” he warned. Shopping basket.

Seville adds to the increase in the price of items considered “basic” for families A “sharp” rise in interest rates 4.5% after the last change was formalized a few days ago, by the European Central Bank (ECB). According to the expert, the increase “is already beginning to be noticed.” Reduce investment, except for the foreign one, which is still thriving. For Seville, this foreign investment does not seem to be enough to ensure the good progress of the Spanish economy and warns of future problems, especially a A political moment rather than turmoil After the conclusion Elections Generals on 23rd July last.

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Confounding data and trends Economic stability is needed Contracts In the political context, when we have the exact opposite. In the end sanity attack, “Because the economy is much weaker than it appears and I don’t think it will improve in the coming months,” he said Former Socialist Minister For the entire political class without reference to any particular party.

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