• According to AIReF, 1.2 million workers at ERTE will end up unemployed and will not recover their jobs this year
  • Opinion.Double suspense of Brussels and the Tax Authority to Montero for inflating revenues
  • Live.Coronavirus Spain today, breaking news

The Spanish economy will not recover to pre-crisis levels until 2023, that is, that the crisis will last at least three years . And at that time, it will only have returned to the starting point, at the end of 2019.

" In our central scenario, the economy would not recover until 2023 ", explained today Raymond Torres, director of conjuncture and international analysis of Funcas, who also pointed out that at the end of this year the Gross Domestic Product (GDP) will still be located five points below the level observed in the last quarter of 2019 and that in 2021 the difference will still be just over two points.

This warning is very much in line with the one issued yesterday by the Independent Authority for Fiscal Responsibility (AIReF), which also pointed to those five points of difference, and even with that of the Government itself. In the stability plan that was sent last week to Brussels, the Executive was already anticipating that at the end of 2021 the recovery would still not be complete .

Nor does it seem likely that unemployment levels will return to the 2019 level before that year. BBVA Research, for example, pointed out that the average rate in 2021 would still be above 17%, with which 14% last year would continue to be far away. And Funcas, in the forecasts that it has published today, maintains that in the fourth quarter of 2020 the rate will reach 20.5% .

Those figures do not include workers who are in a situation of temporary employment regulation (ERTE). Torres stressed that this figure is preventing the destruction of many jobs and that the unemployment rate is significantly higher. So much so that, according to their estimates, in the second quarter of this year the rate would reach a spectacular 34% if workers in ERTE were also counted .

According to the criteria of The Trust Project

Know more

  • Covid 19
  • Coronavirus
  • Crisis

Coronavirus crisis The aid announced by the Government will exclude 90% of sheep and goats from Castellón

PoliticsThe first provincial telematic plenary session in Castellón calls for union and cohesion in the face of the coronavirus crisis

Solidarity The Cáritas Castellón teams, overwhelmed by the doubling of the family emergency with the Covid-19 crisis