Saturday, June 25

Navigate between risks and uncertainties

In the midst of the rollercoaster of economic and health news in recent months, we trust that 2022 is a decisive year for our economy and that, in addition, it is remembered as the one in which the pandemic was definitively controlled. The challenges, therefore, are important and the risks not negligible.

Although the economic situation is not being as easy as it seemed, the Spanish economy is growing again and I believe that it is an objective reality. Accumulated savings, the increase in domestic consumption, the increase in investment and the improvement in the labor market are clear symptoms that the desired recovery is taking place, although confidence in our economy has been very volatile due to the alternation of positive and negative news that have forced growth prospects to moderate.

The objective will therefore be to consolidate the recovery while navigating between new risks and uncertainties that could make us stagger. It is true that the ship is safest when it does not leave the port, but that is not what they were built for. Taking risks is something that businessmen are used to and it is undoubtedly at this critical moment that we must get the ship out of the port to be able to contribute to continue generating wealth and employment.

It will be necessary for it a higher rate of execution of the “Next Generation” funds, which will open new perspectives not only for this growth to be maintained, but also to serve to accelerate the transformation of the structures of our country, especially in the digital and innovation fields, and allow us to achieve more development. sustainable.

I am of the opinion, and our research service corroborates it, that among all we will be able to consolidate the recovery and that we will be able to close the year with GDP growth of around 4.6%, which could increase to 5.8% for next year.

Domestic demand, with the permission of inflationary tensions, will continue as the engine of our economy thanks to this reduction in health uncertainty. The progressive normalization of global supply chains in the second half of the year and increased commercial activity would allow part of the accumulated savings to continue to flow, causing private consumption to grow by around 5.6%.

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I would like this true prospect of present and future growth to also help reduce social imbalances and leave no one behind. Our country, during the pandemic, has given a great example of solidarity and support to the most disadvantaged by all: families, companies, health personnel, institutions, the armed and security forces … and I would like that solidarity, also intergenerational, was maintained over time and became part of our way of being at a collective level, and not just individually.

Let’s not forget the lessons of the past and let’s work to build a community, economically and socially, in which we all fit.

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