Sánchez Plans To Revise Growth Upwards

Sánchez plans to revise growth upwards. The president anticipates that 189,000 more affiliates will join Social Security in June.

The President of the Government, Pedro Sánchez , has announced that he plans to revise the growth forecast for this year. Before a large audience of businessmen and executives in the final session of the Cercle d’Economia Meeting , the Chief Executive Officer has been very optimistic about economic developments.

In fact, he has ensured that activity has accelerated and anticipated that in June 189,000 more members of the Social Security are expected in seasonally adjusted terms and 222,000 more on average than in May.

He also stressed that the recovery of employment and the return of workers who were in temporary employment regulation files ( erte ) has benefited the sectors that were most affected by the pandemic, such as commerce and those related to turtism and the hostelry.

Sánchez explained that the Government wants the recovery to be “extraordinary, but also to be fair and lasting.” The president has considered it necessary to modernize, update, reform and reconvert “many of the traditional productive sectors” for a new era after the pandemic.

The Executive maintains for now a growth forecast of 6.5% in 2021 and 7% in 2022. Sánchez has endorsed the words of the president of Banco Santander, Ana Botín, who in these same days said that Spain “will leave of the map “this year.

Economic activity has picked up pace during the second quarter, with an increase that the Bank of Spain estimates to be 2.2%, compared to the 0.5% drop experienced in the January-March period. Sánchez’s positive message, who recalled the boost that European ‘Next Generation’ funds will provide, comes after this morning, on the same stage, the Second Vice President and Minister of Economy, Nadia Calviño, stated that “the recovery is underway . “