2023-11-25 14:00:29
The vice president and minister of Economy, Nadia Calvinohas stated that one of the objectives of the current legislature that has just begun after the general elections of July 23 is achieve “full effective employment”. In one of his first interventions after revalidating his position, Calviño stated that the investments and reforms included in the recovery plan with the injection of European funds Next Generation will allow you to achieve that goal.
According to the State Public Employment Service (SEPE), full employment is “the situation of complete utilization of the workforce. Given the difficulty of achieving this objective, full employment is usually defined in a way that includes a small percentage of unemployment , generally up to 4% of the active population“. In the third quarter of this year, the unemployment rate stood at 11.84%, according to the active population survey (EPA).
The Government provided in the last budget plan sent to Brussels in October that the unemployment rate will fall at the end of this year below the 11% levelup to 10.9% with an active population of 24 million people.
Through a video, given that the vice president has not been able to attend the event due to scheduling problems, Calviño has closed the 28th edition of the Trobada d’Economia a S’Agaró, with a very optimistic message. He has highlighted the “extraordinary dynamism of the labor marketwith records of affiliation to Social Security and 24 million active people”, as well as the drastic reduction in the temporary employment rate and the growth of employment and wages in the sectors with the highest productivity.” Calviño explained that affiliation to Social Security in the fields of information and communications technologies, R&D and science have grown almost 50% since 2018.
In his message he recognized that the economy moves in an environment of uncertainty due to geopolitical instability and technological and climatic transformations. And that, in his opinion, makes the agreement “more necessary than ever” to guarantee political, economic and financial stability, as well as social cohesion.
Dialogue and flexibility
The vice president has appealed to dialogue, flexibility to adapt to changes such as technology and energy, the attraction of talent by investing in training and recycling, among other measures. They are values, she added, “to which the Government has been committed for more than five years.”
Calviño has explained that to continue on that path we must continue with an economic policy with fiscal responsibility, social justice and structural reforms to modernize the economy. In his opinion, these policies and European funds have made the Spanish economy demonstrate great strength. And he has stressed that for years it has been “the large European country that grows the most and one of those that suffers the least inflation” and that, in turn, it applies a very clear fiscal responsibility agenda “which gives peace of mind to the markets.”
Deleveraging
Other factors that reflect the change and strength of the Spanish economy are, as detailed by the vice president, the current account balance of payments surplus of 3% of gross domestic product (GDP) and the , whose debt levels are much lower than in the past “thanks largely to the rescue that was carried out by the public sector during the pandemic.”
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The vice president, who is running to be president of the European Investment Bank (AT) in concurrence with the Danish Margrethe Vestager, assures that on these more solid bases, Spain must complete the reforms of the recovery plan. And she recalled that the European authorities recently approved the addendum, the second phase of the plan to complete the strategic projects underway in driving sectors such as electric and connected vehicles, chips, the aerospace or agri-food sector, the deployment of renewable energies, artificial intelligence, among others.
During the conference this Saturday there have been debates about the geopolitical situation, the energy transition and the role of SMEs, in which the president of Enagás, Antoni Llardén, and the president of Pimec, Antoni Cañete, have intervened.
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