The government no longer holds the promise of Calviño and delays 2022 the recovery of the precovid levels

The Government has moved to Brussels that "provides that in 2022 the level of employment and GDP recovers", commitment that contradicts and is not online with

The government no longer holds the promise of Calviño and delays 2022 the recovery of the precovid levels

The Government has moved to Brussels that "provides that in 2022 the level of employment and GDP recovers", commitment that contradicts and is not online with what is promised less than a month ago by Nadia Calviño. During the presentation of the Macro Table, the Vice President of Economic Affairs announced that the economy would recover the levels of activity and employment "before the end of the current year". And that the first quarter of 2022, would already be higher.

Instead, in the budget plan 2022 that Spain has referred this afternoon to Europe, that commitment is not maintained. And it is more, it is not fixed at what concrete moment next year it will become the previous levels. Sources of economy indicate that Calviño actually alluded to "GDP daily" and affiliation, and therefore there is no type of modification.

In any case, after Calviño made that promise, the macroeconomic data has deteriorated significantly or, rather, the growth data estimated by the INE for the second quarter of the year. Just two days after the Vice President formulates this commitment, statistics reviewed the data from 2.8% to only 1.1%, causing numerous reactions. For the significant of the reduction, by the correction to Calviño and because that data pushed a complete review of the macro table.

Thus, many organisms and analysis firms have done so, which in recent weeks have carried out a massive mass review. The Government, in spite of this, has maintained its picture and has developed budgets from it, which has raised not a few doubts. But what he has done is correct that commitment of Calviño.

Instead, the Executive maintains that in 2023 "the pandemic growth path" will be recovered, something that those same organism and analysis firms that have reviewed their data do not share. Because for this we would have to grow in just one year everything that was stopped advancing during the crisis derived from the pandemic.

Regarding the fiscal field, the Government maintains the measures and actions already expressed in the budgets: the reduction of the maximum top in the pension plans at 1,500 euros; the minimum rate of 15% in societies; o The reduction of the deficit of 11% to 5% that underlines the Minister of Finance, María Jesús Jesús Montero, although not including any specific measure.

What he does advance, as he has already done on numerous occasions, is that he will carry out an important fiscal reform with which "closer the levels of taxation of Spain to the average of the" European countries. That is, the increase of those "seven or eight" points to which Alude Montero in fiscal pressure. An important rise that will be based on the proposals of the Group of Experts, which will arrive in February, and the Minister has pointed out that it could be launched even before the budgets of 2023.

Updated Date: 16 October 2021, 12:31

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