• Economy Sánchez boasts of good economic progress and raises GDP growth for this year beyond 5%

The

Spanish economy grew by more than 5%

in 2022. This is what the Independent Authority for Fiscal Responsibility (AIReF) estimates, which this Monday has significantly revised its forecasts and, in this way, supports what at the end of the past announced the President of the Government, Pedro Sánchez.

The organization headed by Cristina Herrero estimates, specifically, that growth was 5.3%, which represents an increase of

nine tenths

compared to its previous forecast.

At the same time, the data indicated for 2023 is 1.6%, which represents an

additional increase of another tenth

.

"The main source of revision in 2022 comes from

the incorporation of the new CNTR data,

" explains AIReF, referring to the significant improvement that the National Statistics Institute (INE) made to the national accounting data and for which revised the growth in the third quarter of the year by up to six tenths.

This notable improvement occurred after the departure of Juan Rodríguez Poo from the presidency of the INE, pressured and forced by the Government, and the subsequent arrival of Elena Manzanera

"The better end of 2022 compared to what was anticipated and the

improvement in the assumptions about the prices of energy raw materials

in 2023, justify an upward revision of the expected growth in 2023," adds the Fiscal Authority.

more deficit

The update of AIReF's forecasts also includes a rise in the forecast deficit, from 4.3% to the

4.5%

it now estimates.

This data is registered despite the strong increase in tax collection, which in 2022 surely marked a historical maximum.

So much so that, according to the latest figures from the Tax Agency, revenues at the end of November were already higher than those of all of 2021: almost 240,000 million euros.

In its negative review, AIReF highlights "the implementation of the packages of measures approved" by the Government to deal with inflation.

And regarding prices, the agency lowers the estimated data for 2022 by five tenths,

up to 8.4%

, due to the recent moderation in energy prices.

"The CPI forecast for 2023 rises by three tenths

, to 4.2%

," he adds.

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