ECONOMIC STABILITY

ECONOMIC STABILITY

The policy corresponds to offer the conditions of governance that allow us to weather global insecurities

   The Spanish economy faces 2019 with the favorable impulse of a growth dynamic that places it, in this respect, at the head of Europe. But the uncertainties generated by the global withdrawal, and the particular circumstances that Germany is going through, warn of immediate difficulties that coincide in our country with two consecutive electoral processes, in April and May. Everything seems to indicate that domestic demand could continue to boost the Spanish economy, although the reactivation falls below 3% to be rushed to stay at 2%. But as long as a country as key as Germany does not lead to negative or zero growth; and as long as the electoral scrutiny does not lead to a situation of prolonged institutional instability.

The always partial interruption that in the activity of the public administrations accompanies all electoral convocation, before the unknowns that generates the appointment with the ballot boxes and the time that requires the conformation of the majorities of later government, does not bring a substantial damage for the march of companies and the economy as a whole. The problem lies in the eventuality that the XIII Legislature ends up running through channels similar to those that have offered less than three years of the legislature now terminated.

   Government officials are accustomed to attribute the economic and employment results that occur in their respective mandate, as if they were a direct result of their own action. But the positive moment in which the Spanish economy is found has been more in spite of the political and institutional instability that thanks to the legislative and budgetary initiative. The year 2019 inherits the Accounts of 2018. The policy corresponds to offer the conditions of governance that procure the country a sustained growth, and the necessary capacity to weather the insecurities that the sluggishness of the global environment entails. Of course, there is no margin for an autarkic administration of national possibilities.

   These depend in their immense majority of which the external demand continues active, although the internal demand allows to overcome periods of difficulty. Now that the EU seems to relax its vigilance regarding budgetary discipline, thus meeting the requirements of France and Germany,