- Reconstruction Economists (XI). Emilio Ontiveros: "It will be devastating for the economy if the situation gets out of hand and there are new seclusions"
- Unemployment: the labor market recovers 161,000 members, its best figure since 2005
"We will not overcome the situation" that we had before the coronavirus crisis until 2023. In this way, the Prime Minister, Pedro Sánchez, has recognized that there are still several years of economic crisis , and that the Gross Domestic Product (GDP) will not exceed the level at which 2019 closed, at least, until more than three years later.
It will be, therefore, a long recovery , in no case in the form of a V as the Government initially predicted, but in line with what the Bank of Spain first warned, and finally the Executive itself had to accept. when he started talking about V asymmetric.
Only in the second quarter of this year, as published by the National Institute of Statistics (INE) last Friday, the economy suffered a contraction of 18.5%, which added to the already historic drop of 5% that had been registered between January and March. Figures of such magnitude that, although the recovery began as early as May, as the vice president of Economic Affairs, Nadia Calviño, has defended on more than one occasion, will take years to leave behind. And to this we must add the possible impact that the possible confinements that trigger the outbreaks have.
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Know more- Crisis
- Coronavirus
- Covid 19
INE Spain data suffered a historical collapse in the second quarter: the economy sank 18.5%
Crisis The outbreaks threaten to bring the recession of the economy beyond 14%
EuropaMichel proposes to cut the EU budget and keep the size of the Recovery fund more conditional
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