The Government defends the strength of the Spanish economy to face the rise in rates

MADRID, 8 Sep. (EUROPA PRESS) -

The Government anticipates that the rise in interest rates will have a more moderate effect on the Spanish economy thanks to the solid position of families and companies, which allows Spain to calmly face the rise of 75 basic points approved this Thursday by the Governing Council of the European Central Bank (ECB).

According to sources from the Ministry of Economic Affairs and Digital Transformation, the situation of Spanish families and companies, despite facing high inflation, is solid, which means that the effect of this rise in interest rates is more moderate .

According to the Department headed by Nadia Calviño, families have behaved very prudently in recent months, something that is reflected in their savings and in the evolution of consumption, although this has led to a moderation in demand.

From the Government they point out that they had been going through a very long period with exceptionally low rates and now, in a context of escalating inflation, the logical thing is that the central banks react to the rise in prices. Of course, although expected, this rise has occurred more quickly and intensely than could be expected, according to Economy.

Given that the rate hike will be another element that will affect the evolution of the economy, the Ministry of Economic Affairs has stressed the importance of reaching an income pact which, in its opinion, would have to lead to pluriannual agreements between employers and unions on wages and business margins, which are currently contained.