The Minister of Economy, Carlos Body, today showed his satisfaction in front of the media for the “support” that the improvement of the economic forecasts that the European Commission has made for Spain and its alignment represents for the Spanish economy and for the Government’s policies. with the 3% deficit goal for 2024 set by the Executive.
The head of the Economy portfolio has highlighted above all the importance of Brussels’ confidence in meeting the deficit objective because its compliance means being outside of “the increased surveillance and corrective arm” of the European Union. “For us, it is fundamental,” he said.
Body has highlighted that Spain will be, at the end of 2025, “one of the only four countries” at the European level with a fiscal position “better than the one we had in 2019.” “It is a clear sign of Spain’s commitment to budgetary responsibility, even in these years in which we have been in a situation of lack of implementation of European fiscal rules,” he explained.
He stated that in view of the presentation of the consolidation plan in September, “this good news allows us to make better forecasts, not only in the short term, but also in the medium term.” The minister did not forget to highlight that “this budgetary commitment and this fiscal responsibility has been compatible with the protection of the homes of the most vulnerable families thanks to the implementation by the Government of the social shield.”
According to Body, the improvement of the European Commission’s forecasts for Spain is “an additional message of confidence” to what other institutions have already been doing, which have also improved their numbers for the country. “They update their forecast for 2024 upwards by four tenths, to 2.1%, placing it above our own forecast of 2% and around almost three times above the forecast they have for the entire euro zone. The Spanish economy will lead growth in the euro zone, both in 2024 and 2025,” he said.
The minister left a third reading of these numbers before the media and it is the “stabilization and progressive moderation of prices towards that 2% in the year 2025.” This data “allows us to confirm that element of effectiveness of the Government’s economic policies that will allow households to maintain and progressively gain purchasing power and competitiveness on the part of companies.”