Calviño affirms that the economy will grow more than expected in 2022 and will remain at levels above the euro zone average in 2023
MADRID, 4 Oct. (EUROPA PRESS) –
The Government anticipates that the growth of the Gross Domestic Product (GDP) these years will allow it to continue creating jobs and that by the end of 2023 there will be almost 21 million employed and that the unemployment rate will be below 12%.
This has been advanced by the first vice president and minister of Economic Affairs and Digital Transformation, Nadia Calviño, at the press conference after the Council of Ministers, where she has appeared to explain the macroeconomic picture that accompanies the project of the General State Budgets (PGE) for 2023 approved today by the Executive.
The Government has taken the opportunity to raise its economic growth forecast for this year from 4.3% to 4.4%, although it has cut six tenths, to 2.1%, its estimates for the Gross Domestic Product (GDP) for 2023 “A path of strong and sustained growth has been maintained so far,” Calviño stressed, after stressing that there are no symptoms of an economic slowdown.
According to the first vice president, the General State Budgets and the macroeconomic framework are marked “by prudence, fiscal responsibility, social justice, modernization and economic efficiency.”
And it is that, in a context of lower growth of the European economy, the Government assures that Spain will maintain in 2022 and 2023 growth levels higher than the average of the euro zone and the main developed countries, in line with the estimates of the major national and international organizations.
The update of the macroeconomic scenario includes the most recent data that shows a greater role for the foreign sector, driven mainly by exports, with a growth forecast of 17.9% for the year as a whole.
Likewise, the positive contribution of national demand is maintained, with a contribution of 1.5 points, derived from household consumption, which will grow by 1.2%, and from investment, with an advance of 5.1%.
THE PRIVATE CONSUMPTION DEFLATOR WILL DECREASE TO 4.1% IN 2023
Reducing inflation is one of the Government’s priorities and, in this sense, Calviño pointed out that the measures adopted are allowing the CPI rate to be cut, while supporting the most affected sectors, families and vulnerable groups.
In 2022, the GDP deflator is expected to grow by 4%, and the consumption deflator by 7.7%, while for 2023 these rates will be 3.8% and 4.1%, respectively.
