The “strong confidence” of the financial markets in the Spanish economy stands out from Frankfurt
MADRID, 19 Oct. (EUROPA PRESS) –
The First Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calviño, expects the downward path of inflation in Spain to continue, after the Eurostat data released this Wednesday confirmed that the harmonized CPI rate reached in September 9 %, compared to 10.5% in August.
“Inflation is already on a downward path in the case of Spain and last month it was one point below the average for the euro zone and two points below the European Union,” the first vice-president highlighted in statements to the media in Frankfurt, where he accompanied King Felipe VI on his visit to the European Central Bank (ECB).
Also today the advanced data on affiliation to Social Security for October was known, a month in which the creation of 102,000 jobs is expected despite the “uncertain environment”. “The dynamism of the labor market is maintained and the Spanish economy has already accumulated a year and a half of job creation,” the Government’s economic officer has highlighted.
In this context, Calviño has assured that what he is receiving in the different meetings is a strong confidence in the capacity of the Spanish economy to face the challenges derived from Putin’s war, the rise in prices and uncertainty.
As indicated, what all public, private, national and international organizations agree on is that the Spanish economy will continue to grow in 2023 and register growth rates well above the rest of the European economies.
“This confidence in the Spanish economy is what we see in all our meetings with international investors and what I was able to confirm at today’s meeting at the German stock market”, the minister stressed.
He has emphasized the “positive” moment that bilateral relations between Spain and Germany are experiencing, working and collaborating together to be able to face the challenges arising from the international situation in the best possible way.
In fact, tomorrow the vice president will hold a meeting with the president of the ECB, Christine Lagarde, in Frankfurt and will participate in a round table to address the Perte de la Nueva Economía de la Lengua at the Book Fair in that city.
Regarding the impact of the rise in interest rates on family economies, Calviño recalled that his Department is working “intensely” with the Spanish financial sector to alleviate the situation of families and prevent any type of risk from occurring or financial instability derived from this rate hike.
“There are many proposals that are being put on the table and we are going to analyze them so that as soon as possible we can have a catalog of measures that can support Spanish families in this context of rising interest rates,” he reaffirmed.
