MADRID, 26 Jul. (EUROPA PRESS) –
The Government has maintained its growth forecast for the Spanish economy at 4.3% for this year, but has cut its estimate for 2023 by eight tenths, to 2.7%, in a context of high uncertainty due to the impact of the war in Ukraine and the rise in prices, especially energy prices.
This was stated by the First Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calviño, during the press conference after the Council of Ministers held this Tuesday, where she defended that “everything continues to point to strong growth in the Spanish economy” .
These new forecasts by the Executive are aligned, according to Calviño, with the estimates made by all national and international organizations, which in recent weeks have revised their growth projections for Spanish GDP downward. For example, the European Commission estimates growth of 4% this year and 2.1% next, while the Bank of Spain places it at 4.1% in 2022 and 2.8% in 2023.
And it is that the rise in energy prices, together with the negative impact on the main European economies, fundamentally the German one, are slowing down the recovery of the Spanish economy after the pandemic, which had accelerated in the second half of 2021.
“The main challenge for the Spanish economy at the moment is inflation,” acknowledged the first vice president, who assured, however, that the measures promoted by the Government are limiting the Consumer Price Index by more than 3.5 percentage points.
While waiting to know the advance data of the GDP for the second quarter, which will be released by the INE next Friday, Calviño has assured that all the indicators show a strong growth of the Spanish economy also between April and June.
