Madrid will exceed Catalonia this year as the first Spanish economy

Madrid will exceed Catalonia this year as the first Spanish economy


The Spanish economy is doing well, but it will not escape the global slowdown. This is the summary done by the Economists' Association of Madrid, in the annual presentation of the magazine Economistas, of the current economic situation. Spain maintains the same economic growth in 2019 as last year, although until the summer "we will have instability". Jaime Requeijo, director of the publication, and Pascual Fernandez, dean of the Economists' Association of Madrid, point out that the German economy is slowing down, the Italian economy is going bad, the French one offers doubts and the British one is an unknown. In this situation, the deceleration will also affect Spain.

The College of Economists sees "lights and shadows" and makes "recommendations". Among the highlights highlights the growth of GDP in 2018, the creation of employment in all sectors, the improvement of remuneration especially in the industrial sector, the continued internationalization of the industry and the fact that the public sector has been able to finance easily. Among the shadows are an unattractive world panorama, slowdown included, as well as the various commercial wars started. "A commercial war is known as it begins, but not how or when," said Jaime Requeijo, who also points out that "all uncertainty harms growth."

Madrid's economists, in the recommendations chapter, insist on the importance of education. In his opinion, the current Spanish education, especially secondary education, does not correspond to the needs of society. " Requeijo addressed the need for secondary education to guarantee mastery of the four basic languages: the own language, spoken and written; English, also spoken and written; Mathematics, as a discipline of rationalization of thought - it is a way of thinking - and the language of digitalization, not so much as user's computer skills, but as knowledge development.

Finally, Requeijo and Fernández advanced that, according to the most recent estimates, Madrid will surpass -happened in 2018- Catalonia as the largest Spanish economy, something attributed to Madrid's greater dynamism and not so much to the effects of "proces".

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