Optimistic outlook from the minister: Spain will grow by more than 2.4% in 2025.

The Minister of Economy, Trade, and Business, Carlos Cuerpo, has offered an optimistic outlook on the economic future of Spain. In a recent interview, Cuerpo predicted that the Spanish economy will grow above 2.4% in 2025, which will generate a sense of pride among citizens. This positive vision is supported by an upward revision of growth forecasts, which will be announced at the end of January, following the confirmation that 2024 will close with a GDP increase of up to 3.2%. Cuerpo explained that the projected growth for 2024 ranges between 3.1% and 3.2%, depending on the final impact of Dana, a climatic phenomenon that has affected certain regions. This robust growth in 2024, according to the minister, will translate into a significant carryover into the beginning of 2025, with an increase of 1.2 points that promises to consolidate the country’s economic development. "When we have the figures for the last quarter, it will be clear that we can be above 2.4%," said Cuerpo, who hopes that these results will contribute to a more positive perception of the Spanish economy among citizens. The minister emphasized the importance of citizens feeling that good economic news impacts their daily lives, fostering a sense of pride in the country’s performance in this area. One of the key points highlighted by Cuerpo is that Spain is contributing 40% of the growth in the eurozone, in addition to generating jobs at a rate comparable to that of major economies such as France and Germany. This growth, according to the minister, is sustainable and balanced, allowing for the achievement of goals that previously seemed unattainable. However, Cuerpo also addressed concerns regarding the lack of budgets for 2025. While he acknowledged that the government has met its fiscal commitments without a formal budget, he stressed the importance of having these documents to translate the major economic policy objectives into concrete actions. In this regard, the minister expressed optimism about ongoing negotiations to establish a budgetary agreement, comparing the process to a team sports effort. Regarding the controversial tax on the profits of energy companies, which was recently approved and is facing difficulties in Congress, Cuerpo stated that this aspect is one of the most complex parts of the negotiation. Despite the differences between political parties, the minister committed to working towards reaching a consensus, although he admitted that no further attempts would be made if the decree is rejected. The minister also addressed the issue of the Minimum Interprofessional Wage (SMI), indicating that there is room to increase this wage and that lower-income workers should benefit from the positive economic evolution. On the other hand, regarding the proposal to reduce the workweek to 37.5 hours, Cuerpo defended the need for a balanced approach, suggesting the implementation of a support plan for companies. Although the latest data on property sales and mortgage signings resemble the levels seen during the real estate boom of 2007, Cuerpo was cautious about this. He assured that the current situation is not comparable to that bubble, as the construction sector currently represents about 6% of GDP, in contrast to the 12-13% it reached at its peak. Furthermore, he highlighted that the financial situation of households is much more favorable today. In summary, the economic horizon outlined by Minister Cuerpo appears filled with optimism, with growth expectations promising to benefit the general population. However, challenges remain, particularly in the areas of budgeting and labor policies, which will require careful and collaborative management to ensure that this growth is truly sustainable and equitable for all citizens.