Miracle and its dangers | economy

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What a shame! As much as you want to believe that the Spanish economy is sinking, the data contradicts it again and again, and it’s a wonder, wow! GDP growth in 2023 was five times higher than the Eurozone average, reaching 2.5%. But this year, we agreed, would be a reflux year, approaching or equaling that number. And what a shame that a desperate race has been induced by all institutions and nations!

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What a shame! As much as you want to believe that the Spanish economy is sinking, the data contradicts you time and time again, making it a wonder, wow! GDP growth in 2023 was five times higher than the Eurozone average, reaching 2.5%. But this year, we agreed, would be a reflux year, approaching or equaling that number. A pessimistic race seems to have been induced by all bodies, national and international, public and private, to advance their predictions for this country instead of anticipating the desired disaster.

Good momentum continues, but we insist on denying it: they say Spain will The Champion of World Tourism in 2040. There are already 21.3 million workers on Social Security who are still ghosts, but the ghosts are contributing. And beautiful, uneducated, unemployed youth (Ninis) back: they’ve cut their ten-long streak since 2013 to 12.3%, but this could be a statistical trick.

The omens of doom and the judgment wrought by the Pyrenees above the traces of its failed prophecies. The European Commission has approved the fourth grant of the Next Generation Fund (47,000 million) to Spain, recognizing a key place in Spain’s reformist performance, possibly Ursula von der Leyen as a member of Podemos.

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Let’s go to the international financial markets, it’s ours, raw capitalism, they will never fail, they will never let us down. Also, since the quarter finals are being played. And, alas, the Spanish risk premium (the premium investors pay for a ten-year Spanish bond relative to a German bond) was at 98 basis points on Friday… 158 for our traditional dance partner, Italy, which is more than 50%. Perhaps the gullible speculators are jealous of Italians because they drive Ferraris. The Spanish premium has been at its lowest since 2008, after the European elections: blasphemy, they prefer Pedro/Yolanda over Le Pen/Ciotti.

Serious advice: Let’s be careful not to get carried away by miracles. Governor Pablo Hern√°ndez de Caz has already warned in his farewell speech about the accumulation of uncertainties, the urgency of cross-cutting “political agreements” between blocs and the danger of not making them. The European situation after 9-J is less understandable and more volatile; World trade slows down; A return to budgetary austerity (not necessarily austerity) for the EU is just around the corner; Some of the (now considerable) outstandings in Spain are still alive: manufacturing, credit, quality of work, housing…

Taking advantage of this favorable year at the beginning will benefit both the government and the opposition. For example, the appointments of the judiciary, the Bank of Spain, the CNMV, the new Productivity Council must be agreed upon. It would remove the uncertainties and make the economy more resilient which is not so crazy. Many of us would love that, wouldn’t we?

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