Hard times are coming, Gonzalo Gortázar, CEO of Caixabank, came to say this afternoon. The manager participated this afternoon in a luncheon-colloquium organized by the Association for the Progress of Management (APD Zona Levante) in Valencia on the economic context and in it he explained that, in the midst of the inflationary process, "more than a year ago "We are waiting for negative things to happen. The data we are seeing is clearly a slowdown."
Under the title of Economic context and managerial leadership, Gortázar pointed out that in Spain "we cannot be immune to what happens outside" and added that after three quarters with a differential behavior, "we think that this is going to reduce." . The company presents third quarter results next Friday at its headquarters in Valencia.
Despite the economic situation, Gortázar has recognized that the Spanish economy is in a "situation of significant strength", with household debt at 51%, five points below the European average. "Financial health is radically better than what we had and better than what Europe has," he added.
Likewise, the CEO of Caixabank has stated that the company is "in a very powerful position" and has assessed that the financial sector "instead of being part of the problem, has a position of strength to help families and companies weather the storm." ".
In this declared strength, he has pointed out that the foreign sector has a lot to do with it and he wanted to recognize the effort made by the companies that went out to foreign markets in response to the latest crises: "Something has happened structurally in this country and that is that leaving "During the crisis, the private sector has made an extraordinary effort, moving companies forward with great effort; now we are seeing the result."
Finally, he has assessed that "public debt must be redirected" and has placed emphasis on "valuing the natural net worth" in sustainability and decarbonization and on not leaving people on the sidelines of technological change: "We must not forget people in results orientation", he stated.
