• Review of the economy The IMF disarms Sánchez's fiscal coup and censures the rise to pensioners and officials

The Government, through President Pedro Sánchez himself, affirmed that the boost from European funds would already be so intense in 2021 that the Gross Domestic Product (GDP) of Spain would register a very notable additional boost of up to 2.6 points.

The data has already generated certain doubts among many analysts, and the Bank of Spain has certified this Friday that the figure is, in the best of cases, too optimistic.

So much so that it

reduces that additional boost to 1.3 points, that is, half of what the Executive promised


"It is estimated that GDP growth could increase by 1.3 pp in 2021 and, additionally, by another 0.2 pp in the 2022 and 2023 average," is set out in the 2020-2023 macroeconomic projections published this Friday the BdE, and which have been presented by Óscar Arce, General Director of Economics and Statistics of the organization and who has confirmed that, indeed, "

the impact estimated by the Government is double


"The speed with which they are going to be able to spend is not as high" as that advanced by the Executive, explained Arce, in line with the warning that is made in the document: there is

a "very high



about "the The capacity of Public Administrations to absorb such a high volume of resources in such a short period is very high ".

This warning from the Bank of Spain is very relevant since, in addition to dismantling once again a macroeconomic projection of the Government, it does so at a point that the Executive has consistently underlined in its attempt to explain why its economic estimates are higher than those of numerous national and international organizations.

Including those of the regulator itself, which although it has improved its estimates relative to those of September, these are still below the official ones.

Even, in the best of cases.

According to the criteria of The Trust Project

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