Robust growth of the Spanish economy: optimistic projections for 2025.

The Minister of Economy, Trade, and Business, Carlos Cuerpo, has made significant statements regarding the future of the Spanish economy, anticipating robust growth projected to exceed 2.4% by 2025. During a recent interview, Cuerpo emphasized that the Government plans to update economic projections at the end of January, once the final figures confirming the closure of 2024 are released, with growth potentially reaching up to 3.2%. Cuerpo indicated that for 2024, growth is expected to be between 3.1% and 3.2%, depending on the impact of Dana, a climatic situation that created uncertainty at the end of last year. He believes this growth will provide significant "momentum" at the beginning of 2025, forecasting an optimistic outlook for the national economy. The minister stressed that fostering a sense of pride among citizens is a central goal of the Government, who should perceive the benefits of economic growth in their daily lives. In his remarks, Cuerpo highlighted Spain's role within the European context, stating that the country is responsible for 40% of the total growth in the eurozone, a figure that underscores the relevance and strength of the Spanish economy on the international stage. He also emphasized job creation at levels comparable to those in France and Germany, suggesting a continuously improving labor environment. These assertions indicate that growth is not only quantitative but also qualitative, being "sustainable and balanced." However, the minister faced questions about the viability of this growth without the approval of budgets for 2025. Although Cuerpo assured that the Government has met its fiscal commitments throughout the year without a formal budget, he acknowledged the importance of having a budgetary framework to support the economic policies necessary to maintain this positive trajectory. Regarding the recent tax on the profits of energy companies, which was approved through a Royal Decree, Cuerpo admitted that the situation in Congress could complicate its permanence. He assured that the Government is committed to negotiation, although he made it clear that if the necessary consensus is not achieved, there will be no further attempts to push this measure. The minister also expressed optimism about the possibility of continuing to increase the Minimum Interprofessional Wage (SMI), arguing that it is crucial for low-income workers to benefit from the favorable evolution of the economy. Concerning the proposal to reduce the workweek to 37.5 hours, Cuerpo called for a balanced approach, highlighting the need for a support plan for businesses that would allow for this change to be implemented gradually and sustainably. Despite observing housing sales and mortgage signing figures that resemble the levels seen during the real estate bubble of 2007, Cuerpo assured that the current situation is not comparable. He stated that the construction sector represents approximately 6% of GDP, unlike the 12% or 13% it reached at its peak during the previous crisis, indicating that there is still room for growth in this sector without repeating past mistakes. In summary, Minister Cuerpo's projections suggest a promising future for the Spanish economy, with expectations of solid and sustainable growth. Nevertheless, the implementation of appropriate policies, the approval of budgets, and the creation of a framework that benefits all citizens will be key to realizing this optimistic vision. Attention will now focus on the figures to be published by the INE, as well as the Government's efforts to achieve political consensus to support its economic initiatives.