Azpiazu foresees a “slightly downward” revision of growth, but the economy will continue to create jobs
In its latest review, the Basque Government estimated GDP growth of 2.1% for 2023, and will update the macroeconomic picture in the coming days. On the other hand, the counselor believes that raising interest rates to appease inflation could slow down the economy and increase unemployment.
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Euskaraz irakurri
Euskaraz irakurri: Jaurlaritzak hazkunde aurreikuspena apalduko badu ere, enplegua sortzeko adinakoa izango da Azpiazuren arabera
The Minister of Economy and Finance, Pedro Azpiazu, has predicted a “slightly downward” revision of the GDP growth of the Basque Country for 2023. In any case, he believes that the economy will grow enough to generate employment despite “this framework of uncertainty” marked by the war in Ukraine and inflation . In an interview given to the “Boulevard” program of Radio Euskadi, Azpiazu spoke about the economic forecasts for this year and recalled that in the coming days they will announce the updated macroeconomic picture. The estimates for this year are for GDP growth at the end of the year of 2.1%.
The economy of the Basque Autonomous Community grew by 4.4% in 2022, which the counselor has assessed as positive data, improving by one tenth the last forecast of the Basque Government.
Pedro Azpiazu has also spoken about the announcement by the European Central Bank (ECB) after saying that it will continue to raise interest rates until inflation falls to 2%. The counselor has warned that continuing to raise rates could cause a slowdown in the economy and an increase in unemployment.
Likewise, it has demanded “sensitivity” from the ECB and a monetary policy that is more adjusted to the problem of inflation and that it is not simply a rise in rates.
Asked about the possible implementation of the 4-day working day, Pedro Azpiazu has considered that something of this magnitude must be faced “with a lot of reflection and a lot of consensus”.
Source: Eitb
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