Calviño trusts that the CPI in Spain will remain below the community average
The First Vice President of the Government and Minister of Economic Affairs, Nadia Calviño, highlighted this Saturday that Spain has managed to moderate inflation and place it below the European and euro zone average, and has expressed confidence in maintaining this trend “in the coming months”. Calviño has participated this Saturday in the economic conference of S’Agaró, where he has addressed the attendees by video.
“Thanks to the effectiveness of the measures adopted and the containment of energy prices in international markets, we are already seeing a moderation of inflation in our country, going below the European average and the euro zone in October, a trend that we hope will continue in the coming months”, said Calviño. However, he has guaranteed that the Government will continue to fight. “We are not satisfied . Will follow working effectively to combat inflationto ensure a fair distribution of the costs of the war, to protect the most vulnerable and to continue promoting growth and job creation”, he underlined.
In this context, Calviño highlighted that currently the main challenge at the macroeconomic level is “the slowdown in growth in Europe as a whole”, and parallel to inflation, which is being “the main consequence of the war in the case of Spain,” he said. At this point, he has highlighted that the Spanish economy remains “on a path of strong and sustained growth” and which expects to grow this year by 4.4%, a forecast that has said that “it will probably fall short”.
However, he has admitted that in 2023, although all the organizations foresee that the country will continue to grow, it will do so less, “in a context of slowdown and inflation in the European context”. The First Vice President and Minister for Economic Affairs and Digital Transformation has highlighted that GDP growth is being supported by “an excellent evolution of the labor market”with “record” levels of employment and of the active population, and also temporary and unemployment figures “at historical lows”.
Calviño has also highlighted the good performance of investment and the foreign sector. On the other hand, Calviño has claimed that, beyond “respond to the urgent”, Spain cannot “lose sight of what is important”, that is, its medium-term objectives, such as transforming the Spanish economy “green and digital” to guarantee not only economic growth, but also environmental and social growth, has said. “We continue to deploy with ambition and speed the reform agenda and the investments of the recovery plan, which is already having a very positive impact, in terms of economic growth and quality job creation”, said the vice-president.
Along these lines, Calviño highlighted the confirmation of Volkswagen’s investments in Spain, the recent Cisco investment in Barcelona and others announced by Google. With regard to these investments, Calviño has made a call to take advantage of the opportunities offered by European Next Generation funds and has called on the public and private sectors to “walk this path together”.
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