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MADRID, 9 Jun. (EUROPA PRESS) -
The First Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calviño, stated this Thursday that thanks to the measures adopted in response to the war in Ukraine, inflation has been reduced between two and three percentage points in the course of this year.
"The war against Ukraine is already having important economic and social effects throughout the European Union and in Spain the most important impact is in the field of prices," recognized the vice president in the Joint Commission for the European Union meeting this Thursday in the Congress of Deputies.
Proof of this is that the forecast for the harmonized Consumer Price Index (CPI) in May is 8.5% in Spain, although Calviño has stressed that this figure is below those registered in other economies of the European Union such as Germany, Holland or Belgium.
Given the uncertainty that still remains due to the war and the effect on prices, the Government has already announced its intention to extend the measures put in place which, according to Calviño, "are being very effective" in containing the rise in prices.
Despite the situation of uncertainty and geostrategic complexity due to the war in Ukraine, the economic head of the Government has defended that the Executive is handling the forecasts with the "maximum prudence". According to the latest Government estimates, the Gross Domestic Product (GDP) will grow by 4.3% this year, in line with the forecasts of other national and international organizations.
Thus, the first vice president has assured that since 2021 the Spanish economy is in a "strong and sustained" recovery phase. One of the pillars of this recovery, according to Calviño, is the excellent behavior of the labor market.
In this sense, he stressed that Social Security affiliation stands, according to yesterday's data, at 20,345,245 workers, compared to the 20,232,723 registered at the end of May (112,522 more contributors).
