Calviño downplays a possible reduction in Brussels’ forecasts and assures that Spain will comply


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The Vice President for Economic Affairs of the Government, Nadia Calvin, has assured this Tuesday that Spain is in a position to meet its deficit and debt reduction targets this year even in a “more adverse” economic scenario, such as the one that the European Commission could foresee in the forecasts that it will publish this Thursday with a cut in the growth expected this year in Spain.

Speaking to the press after participating in a meeting of EU Economy and Finance ministers (Ecofin) in Brussels, Calviño explained that the “up and down” revisions that are taking place “We should not be surprised” by the environment of “relative uncertainty” and also by “Some changes” caused by the pandemic that may be affecting the evolution of economic indicators.

Faced with this situation, he continued, the Government has opted for a “Very clear line of action” to prepare the General State Budgets (PGE) for this year and 2022, based on «prudence».

«That prudence allows us to be in line to meet the objectives of reducing deficit and debt over GDP in 2021 even in a macroeconomic scenario that may be more adverse, “he assured, after being asked about a possible reduction in the growth forecast for Spain from Brussels this Thursday.

Along these lines, Calviña has abounded that «we have adopted a prudent attitude when preparing the General State Budgets for 2021 and also for 2022 so that, in fact, the better performance of tax revenue It allows us, even in a not so positive macroeconomic scenario, to be in line to meet the objective of reducing deficit over GDP and debt over GDP already in 2021 and also in 2022 ».

About the proposal for social contributions

On the other hand, the economic vice president has preferred not to enter to assess the new proposal for raise social security contributions to 0.6% for ten years, included in the new text that this Monday the Government has brought to the social dialogue table on the pension reform.

“I prefer not to pronounce on proposals that are currently being negotiated and debated by the social agents”, has settled, although it has highlighted the “constructive environment” in which the talks are taking place to reach an agreement.

Calviño has emphasized, on the other hand, that the objective “is clear” and is “Not only guarantee decent pensions now” but also “in 20 and 40 years”. “As a responsible government, we believe that it is time to strengthen our public pension system,” he said, then reiterated that it is necessary to “let the social partners work.”

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