Calviño boasts that GDP has returned to the level prior to the pandemic in "only three years"

by archynewsycom
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The Spanish economy is growing “four times more” than the EU average. Its progress accelerated in the first quarter of the year and, thanks to this, the Gross Domestic Product (GDP) completed its return to the pre-pandemic level in «only three years». The First Vice President and Minister of Economy, Nadia Calviño, was so exultant yesterday when analyzing the economic evolution of Spain.

It did not matter to him that it was the penultimate country in the Eurozone to return to 2019, since Germany achieved it but has fallen back again after its technical recession. And it did not seem to worry her that the average for the euro zone would already reach that milestone at the end of 2021. For the also Minister of Economy, since the outbreak of the Covid pandemic until the return to that level of GDP “only” 36 months have passed.

Calviño’s diagnosis was part of a new government attempt to introduce the economy into the electoral debate. What from the Executive is considered a success is endorsed by some data but not at all by others. And, much more important, does not translate to the well-being of a large part of the population. Precisely for this reason, the Council of Ministers extended yesterday some key measures to deal with inflation and the impoverishment of society.

For example, staple foods will continue to be subject to a IVA 0% and to pastes and oils, 4%. The reduction expired on June 30, and the Executive has extended it until the end of the year. It has also extended to the end of the year the discount on fuels for professional drivers: until September 30 it will be 10 cents, and in the last three months the aid will be reduced to five cents.

Likewise, the bonus in the public transportation, that is, the reduction in the price of passes and multi-trip tickets. Here the aid applied by the Government is 30% provided that the Administration that manages the corresponding service extends the discount to 50%.

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