Tuesday, July 5

Accelerate transformation

March 2022 will mark two years since the World Health Organization declared the coronavirus a global pandemic. Two years marked by an unprecedented crisis in our recent history. Capable of paralyzing, almost completely, economic and business activity around the globe.

A crisis that, above all, has had a high cost in lives. In Spain, COVID-19 has already caused 88,000 deaths. Worldwide, the figures exceed 5.2 million people.

And a crisis that has also had a devastating impact on our productive fabric. Our country was among the most affected by the pandemic in 2020, with a drop in GDP of 11%, the biggest setback in 85 years.

The arrival of vaccines and their advance has allowed us to see the light at the end of the tunnel. In Spain, the vaccination process has been exemplary, due to its pace and extent. A country success to which we have also contributed las companies with the ‘Plan Sumamos. Health + Economy ‘of the CEOE Foundation, which has given a boost to the vaccination strategy within the framework of public-private collaboration.

Since last spring our economy offers signs of recovery, with a particularly favorable evolution in job creation, compared to what happened in previous crises. Despite everything, almost two years later, uncertainties continue to loom that cool the anticipated intensity of this recovery: from inflationary pressures and rising prices, especially energy and raw materials, to bottlenecks in supply chains or the risk posed by new variants of the disease.

Political strategists stress the need to take advantage of crises to tackle reforms that would otherwise be difficult to undertake. I think we are now at a point where We must not only take measures to consolidate the economic recovery but also for promote fundamental changes that make it possible to overcome the structural weaknesses of the economy Spanish and move towards a more modern and efficient production model, with a greater component of innovation and use of new technologies, more competitive and sustainable. In short, a model to face the challenges that come, such as aging, technological change or sustainability, with a more solid foundation.

For this we must ipromote reforms that guarantee the modernization of the labor market, ensure the sustainability of the public pension system, facilitate more efficient and competitive taxation and that allow the cleaning of our public accounts.

This transformation must be based, on the one hand, on the injection that the European recovery funds will entail, more than 140,000 million euros that we must use wisely to accelerate the necessary changes. On the other, in two structural transitions that are unavoidable, such as digital and ‘green’, that we must turn into an opportunity to generate new business opportunities and as an engine of employment.

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In addition, we have to strengthen the commitment to education and training, with models whose horizon is employability; and by a reindustrialization with a high component of innovation.

From CEOE we will continue working to promote this process of transformation of our economy, within the framework of social dialogue and supporting our entrepreneurs in what they do best: entrepreneurship, generate economic growth and create jobs. In sum, contribute to social welfare and prosperity of our country.


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