July 25, 2021

The Government defends the full compatibility of the 2019 budget with the goals of the EU

The Government defends the full compatibility of the 2019 budget with the goals of the EU

The general director of the Treasury and Financial Policy, Elena Aparici, has defended today that the set of measures included in the State budgets for 2019 are "fully compatible with fiscal consolidation and compliance with the requirements of the stability pact" of the EU.

Aparici has made this mention to the budget project for 2019 during the inaugural session of the Global Alliance Partners Conference, an international meeting that brings together investors, entrepreneurs, finance companies and investment funds from around the world in Barcelona to discuss success stories and future scenarios in areas such as innovation, technology, real estate or tourism.

Aparici has defended measures included in the budget for 2019, such as the increase in the minimum wage to 900 euros, and has guaranteed that these measures will be covered "with the toughening of the fight against tax fraud" and with the introduction of "new figures tributary ".

This tax reform will bring the level of public revenue closer to the European Union average, added Aparici, who insisted that "the budget plan is the right one to rekindle the economic recovery now that the tail winds change direction".

Precisely today the European Commission will present its macroeconomic forecasts for Spain this year and the next two years, which will already take into account the budget draft that the Government sent him in October.

Aparici has highlighted that the Spanish economy is in a "mature phase" of its growth cycle, and that the Executive expects it to continue growing "above its EU partners".

"The Spanish economy has had 20 consecutive quarters of growth, an evolution that has allowed to recover the level of GDP per capita before the crisis and two thirds of the employment destroyed during this," said the general director, who has replaced the act immediately. the Secretary of State of Economy, Ana De la Cueva, who was the one who in the beginning had to participate in the act.

"The 2019 budget plan is ambitious," admitted Aparici, but then also stressed that it is based on "prudence" and recalled that the Government is committed to reducing public debt.

In this line, Aparici has assured that Spain will need to create "one million jobs to recover the level prior to the crisis", but has insisted that the foundations are laid "for the economy to grow in a solid manner", because the pattern of Spain's growth has experienced "an important structural change".

On the other hand, he stressed that the bank is "getting ahead in the consolidation of its balance sheets" and is achieving "a robust growth of credit to households and non-financial corporations".

The Global Alliance Partners network, created 10 years ago, is a group of 19 companies dedicated mainly to intermediation activities in the financial markets and corporate finance, and the GVC Gaesco Group is the only representative member of the European Union and Latin America.


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