The XXVIII Economics Meeting in S'Agaró closed yesterday with a warning about the risks of the current economic situation. In a video recording, the Vice President of Economic Affairs, Nadia Calviño, warned of the “high uncertainty and slowdown of the European economy in an intense technological change to respond to climate change.” It was precisely the challenges of energy transformation that were the focus of one of the S'Agaró debates in which the president of Enagás, Antonio Llardén, warned of the need to move towards a new model in which hydrogen can play a prominent role.
Although the vice president of economy warned of possible future risks, she also put on the table one of the main objectives of the legislature, that of achieving effective full employment. It is a distant horizon today since, according to the INE, the unemployment rate stands at 11.8%. To reach full employment the percentage of unemployed would have to be reduced to less than half of the current level.
In the opinion of the head of the economy of the Government of Pedro Sánchez, the dynamism of the labor market was precisely what has allowed the country's GDP (everything produced in a year) to advance more than other markets in the area. “The differential growth of the Spanish economy is based on the dynamism of the labor market,” she added, recalling that there is more than 24 million active population. She highlighted the “qualitative” improvements such as the reduction in temporary employment “drastically”, the increase in salaries and employment in high productivity sectors such as information and communication technologies (ICT), research and development or science.
During the brief recorded speech, Vice President Calviño pointed out that the axes of economic policy in the coming years will go through “fiscal responsibility, social justice and reforms.” The politician also highlighted that “we must undoubtedly avoid complacency because the challenges are enormous.”
In his speech he listed some factors that demonstrate "the structural change" and the "greater strength" of the Spanish economy, such as the current account balance of payment surplus, of 3% of GDP. The other element that he highlighted was the deleveraging of families and companies, with debt that was reduced “thanks, in large part, to the rescue of the public sector during the pandemic.” In this scenario, he also described the disbursement of European funds as “key.”
At the same time, the vice president called, in “an increasingly turbulent world” like the current one, for both the public sector and business leaders to transmit “confidence.” She opined that it is “more important than ever to find common ground” to ensure political and financial stability, sustainable growth, and social cohesion and peace. The five qualities she highlighted were dialogue, flexibility to adapt, attracting talent, ambition and vision, and social responsibility. Calviño assured that the Sánchez Government has been committed to these values from the beginning.
At the discussion table on energy transition, the CEO of Agbar in Catalonia and the Balearic Islands, Narciso Berberana, assured that water regeneration is the best solution to guarantee supply. “We must be able to regenerate 100% of the water,” he defended after stating that the cost of this process is half of what is paid for water from a desalination plant. The president of the Spanish Association of Petroleum Products Operators (AOP), Andreu Puñet, warned that more than 16.5 billion investments in energy transition are at risk if the extraordinary tax on energy companies is maintained.
The last colloquium focused on SMEs, in which the president of Pimec, Antonio Cañete, called for legislating with little ones in mind. The president of SMEs opted together with the general director of the Chamber of Spain, Inmaculada Riera, to create spaces for public-private collaborations to promote the sector. Cañete added that thanks to Europe the Crea y Crece law has been created, because “it changes the story of the Little Red Riding Hood, because it injects liquidity into the system” and companies and jobs are saved.
Previously, in the session on geopolitics, Guillem Colom, advisor to the JEMAD-General Staff of Defense, pointed out the importance of a united European security.
