Calviño tries to deny the OECD: Spain will be one of Europe's growth engines

"Spain will be one of the engines of growth in Europe", "recovery is solid" and "the perspective is very positive." The First Vice President of the Gove

Calviño tries to deny the OECD: Spain will be one of Europe's growth engines

"Spain will be one of the engines of growth in Europe", "recovery is solid" and "the perspective is very positive." The First Vice President of the Government and Minister of Economic Affairs, Nadia Calviño, has treated today to deny, to remove importance and contradict the remarkable negative review that the OECD carried out yesterday. And in passing, do the same with the avalanche of rebates that are taking place, because Calviño has insisted that this good vision is shared "by all organisms".

Calviño has thus clung to the official discourse that the data is already dismantled, and to which the OECD gave the lace yesterday. According to the forecasts of the Organization for Economic Cooperation and Development, the Spanish economy will grow less than 5%, which represents more than two points less than its previous forecast, and the rebound in 2022 will stay at 5, 5%.

As a result of these figures, it will be the last European country in returning to the previous levels to the Covid, a point to which it will not reach the first quarter of 2023. Italy, Portugal or France will do it before, and there are some economies that, in fact, They have already achieved it. These forecasts seem the opposite of being "engine of growth in Europe".

And not only the OECD warns of the least growth of Spain and the problems that lurk the economy. International and also national problems. Consumption, problems in developing European funds, bottlenecks or inflation are some of the up to seven aspects that the Bank of Spain detects as threats for growth.

The agency herself directed by Pablo Hernández de Cos has also advanced that he will carry out a "significant reduction" of his forecasts for Spain, and just that have made all the members of the operating panel. Among these panelists are the CEOE, also its Think Tank, which is the Institute of Economic Studies, Repsol, Caixbabank or BBVA Research, as well as obviously function itself. And all of them worsened their forecasts, now being the average growth expected by the panel of 4.8% for this year and 5.7% in 2022. Therefore, they are not "all organisms" that augur a recovery Solid, as Calviño Aim.

Updated Date: 02 December 2021, 12:58

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