President of the Govt Pedro Sanchez The Spanish economy prides itself on PP’s catastrophic and apocalyptic discourse, which fortunately has not come to pass, as some comfortably believe that worse is better.
Depending on the analyzed numbers, the Spanish economy is going like a rocket or not. In terms of economic growth and GDP, yes; But if we analyze unemployment or public debt, not enough to raise alarm bells.
Spanish exports performed well in 2023, allowing the trade deficit to decrease by 40% due to the fall in imports.
Spain’s economy grew the most in 2023 compared to its European partners and forecasts for 2024 are also very good and expect growth of around 2%, not so much in terms of salaries and employment, Spain continues. leading to unemployment with a rate of 12%. Even more statistics when referring to youth.
Salaries, despite the increase in SMI, are below the average of our members and the shopping basket is increasing. Wages are not growing at the rate of inflation.
Spain later recovered to pre-pandemic levels and took longer to emerge from the crisis. The pandemic and the war in Ukraine have had very negative effects on the global economy.
Another negative fact is that it is associated with the risk of poverty and social exclusion, where Spain ranks fourth in the European Union. 26.5% of the population in Spain live in poverty or at risk of social exclusion.
Inflation, despite measures implemented by the government to stop its upward climb, has reached double digits, higher than the average of EU countries.
So, we have to be very cautious when analyzing the economy and data, even though we are on the brink of fresh elections.
