The acting Government assumes the economic slowdown and a slowdown in job creation in a very different message from the one it gave in the election campaign. The Minister of Economy in functions, Nadia Calviño , defined yesterday as "logical" and "normal" that the current slowdown in "mature economies" such as Spain takes place and issued this warning: "The pace [against unemployment] will be more slow due to the maturation of the economic cycle and the positive evolution of the active population » .

He pointed out that the August data in which more than 200,000 Social Security affiliates were lost "show a slight slowdown" and noted that this trend will continue, although Spain has not yet been able to recover all the employment lost during the long crisis. In fact, the minister no longer insisted on her July statements when she announced that she would revise her growth forecast set at 2.2% this year and 1.9% next year. He now states that "it is necessary to be prudent" and that when appropriate to develop a new macroeconomic picture, it will set a new forecast "based on the information available at that time." However, he maintained that Spain's GDP growth in 2020 will continue to be "close to 2%."

For all these reasons, he said that "we must not fall into complacency" and as a solution he defended Pedro Sánchez's support so that he can govern the next four years.

Calviño raised the pressure on United We by ensuring that "the main factor" that retracts investors to enter Spain is "political instability." He also stressed that the rise in Spanish pensions beyond the 0.25% provided in the Law is in the air, if there is no operational government. When asked about the revaluation of pensions, it has been resounding: «To maintain the purchasing power of pensions, you must have General State Budgets» . He said that it is a priority of the Government, but he stressed that "we all have to be aware" that there is a series of measures that need updating every year.

Calviño inaugurated the Efeminist cycle organized by the Efe Agency and was covered in his speech by the president of the acting Government, Pedro Sánchez, and the ministers of Finance and Labor, María Jesús Montero and Magdalena Valerio, among others. The president has presented the Minister of Economy to the auditorium and has highlighted his negotiation and worth with high praise.

Sources from the Ministry of Labor remember that while there is a functioning government, only the 0.25% increase in pensions is planned for 2020. Going further and revaluing them according to the CPI would require an operational government. Otherwise, we should wait for next year and formalize the increase retroactively. An alternative solution would be for the current acting Government to launch a Royal Legislative Decree for general interest.

Calviño announced on the other hand that the Treasury will reduce the volume of net debt issues planned for 2019 by another 10,000 million euros. Therefore, the debt will rise by 20,000 million, but it is a figure 43% lower than estimated at the beginning of the year . Calviño highlighted that it is the lowest issue since 2007 and that it represents a saving in interest payments of 2,000 million this year.

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  • Spain
  • Pedro Sanchez
  • Nadia Calviño
  • United We Can
  • Social Security
  • State's general budgets
  • Maria Jesus Montero
  • Magdalena Valerio
  • minimum salary
  • Pensions

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