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Calviño foresees recovery in asymmetric V in Spain if Europe's measures succeed

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The recovery of Spain has the "profile of an asymmetric V" and the economy is behaving according to the forecasts of the Government. This is stated by the third vice president and minister of Economic Affairs, Nadia Calviño, which has added that for these forecasts to be fulfilled it is "essential" to be right with the measures in Europe, as well as for global growth to accompany a rebound in 2021.

Calviño stressed this Thursday during a meeting organized by the General Council of Economists that the crisis we are experiencing due to the covid-19 pandemic represents a "complex challenge that does not have a simple answer." "There is no magic wand to erase our problems with the stroke of a pen", has said. Looking ahead to next year, his forecasts point to there being "an important growth rate", yes, "if the de-escalation continues along the same path" and taking the data with "maximum caution" and "prudence.

Therefore, it has appealed to the responsibility of all European countries to face the economic crisis that is affecting everyone. "We need our neighbor to do well if we want our country to do well," he added. Thus, he affirms that "it would be very positive" that, with respect to the proposal of the European Commission, an agreement was reached in July for the program to start operating in January 2021.

Referring to the measures carried out so far, he noted that they are being "effective in cushioning the inevitable downturn in the economy", even having a "very important" fiscal cost. In this sense, it has taken advantage to defend the "urgency" of launching the new tax figures, known as the 'Tobin' and 'Google' rates, creating a "fair" and "modern" tax system, increasing in turn progressivity .

ERTE AND LABOR REFORM

Regarding the labor market, Calviño believes that "alternative mechanisms" are necessary to the Temporary Employment Regulation Files (ERTE) in which the setting in employment is done in hours and not in workers. In addition, it has affirmed that they will have to be adapted to the sectors with the main motivation that the workers will be reincorporated in the coming weeks.

The minister has also been asked about the controversy over the labor reformto the. "It must be done at the right time and with social dialogue with the social partners," he said, making it clear that this is the position that the government also defends.

ADVISORY BOARD

Calviño has announced the creation of two advisory councils, one for Economics and the other for Artificial Intelligence, with the aim of "having a suitable forum in which to share ideas and proposals with renowned professionals." Its implementation will be "immediate" .

Additionally, it advanced that the Telecommunications Advisory Council for the information society is going to be "reactivated", which "unfortunately" has not met since October 2015.

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