March 8, 2021

Calviño advances that he will present the investment and reform plan by the European funds after the summer


MADRID

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The third vice president of the Government and Minister of Economic Affairs, Nadia Calviño, states that the Government is already working on the investment and reform plan “to promote recovery in the medium term, articulated with the new community instruments”, with the intention of undertaking his presentation “after the summer”.

It would be the third package of measures deployed by the Executive since Covid-19 forced to impose restrictions to tackle the health crisis and curb contagions, as detailed in an interview with “La Voz de Galicia” coinciding with the reception of the Fernández Latorre award in recognition of his career and commitment to Spain.

“Spain is being especially affected due to the weight of the strategic sectors hardest hit by the pandemic, such as tourism,” he recalls, recounting that “that requires acting with urgency and determination” and this is what the Government has done “with a comprehensive response, adapted to the development of the virus ».

The first measures were deployed with “a shock plan to help resist families and businesses”, with an emphasis on “the most vulnerable, including the minimum vital income, which has come to stay beyond this emergency.” “Our action has been aimed at protecting and sustaining the business fabric and economic activity, to have a good base on which to build recovery,” she adds.

In a second phase, already with the de-escalation, he said that the plan to reactivate the economy and employment has been launched, “which mobilizes more than 51,000 million to support investment and the solvency of companies”, and now it is time the investment and reform plan “to boost recovery in the medium term, articulated with the new Community instruments”. “All these measures are having significant and visible positive effects, but we must not forget that they represent a very important effort for society as a whole and will result in an increase in the deficit and debt,” said Calviño, convinced that their “success” It largely responds to the “agreement and support” of economic agents and social partners, “with great responsibility and a sense of state”.

“It is just what is needed in these situations. One of the main lessons of the pandemic is the importance of acting together. The unit saves lives, companies and jobs », praises the economic vice president.

Calviño, who confesses that the worst of the crisis is the “advance of the disease itself” because “it is very painful to see how the virus affected so many citizens and close people”, along with the impact of the pandemic on the economy and society, warns about some very unfavorable data in the second quarter, although convinced that the worst was behind.

“In the coming days negative news about employment or the economy in general will be revealed, but they have to do with what happened in the confinement of the second quarter,” he admits, specifying that they are data “from the past” that are “compatible with more recent indicators showing a turning point from May. ”

However, he calls for caution “because there are many uncertainties regarding autumn” and future performance depends on not backing down. “Much depends on not taking steps back and that is why it is essential that citizens behave responsibly, so that what they experienced in the spring is not repeated,” urges the vice president.

His caution also has to do with the realization that there are “tractor” sectors that “are taking longer to recover their previous level of activity and that depend on how the world economy behaves”, but firmly defends that the forecast is still valid of the Executive. “With the information available today, our forecast continues to point to an evolution in asymmetric V, with a progressive recovery in the second half that will lead to significant growth in 2021,” he points out.

When questioned about the loss of the presidency in the Eurogroup in favor of the Irish Minister of Finance Paschald Donohoe, Calviño affirms that the result “does not suppose any limitation to continue promoting a pro-European vision and defending our positions, as seen this week. ».

“Nobody escapes that Spain has played a very important role in the great agreement reached on the recovery plan and the Community budget, starting with the proposal that we presented publicly in April and which served as the basis for the Franco-German consensus and the finally agreed model ”, he recalls, and points out that it will be the line to continue working with the aim of“ managing to relaunch the economy with more inclusive and sustainable growth ”.

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