Azpiazu affirms that “there is no risk of an economic crisis” in Euskadi

The Basque Government has revised downwards the economic growth forecast in the Basque Autonomous Communitywhich places it at 4.5%, 2.2 points below the forecast and makes a growth forecast of 4.1% in 2023.

However, the Minister of Finance and Economy, Pedro Azpiazu, has assured that “there is no risk of economic crisis” in the Basque Country and highlighted that the growth of 4.5% is “positive”.

In an interview on the show “Ganbara” from Radio Euskadi, Azpiazu pointed out that “the war in Ukraine has changed all world forecasts” and that “the situation is serious from the humanitarian point of view”. However, he has advocated not generating alarmism and has insisted that “4% growth is positive”.

“All the institutions, both in the Basque Country and in Europe, must take coordinated measures to ensure that the situation changes”, indicated the Minister, although he also recognized that economic recovery will depend on the duration of the war between Russia and Ukraine . “The end of the war in Ukraine is key”has added.

It has also considered that the European Central Bank should control inflation “carefully” and that measures must be taken to reduce the prices of hydrocarbons and gas.

“We all have to do things in the area that corresponds to us to return to growth rates, and urgent measures are needed, but in-depth measures are also required that cannot be taken overnight,” he explained.

On the other hand, Azpiazu has stated that the current economic situation will not affect the investments planned in the Budget of the Basque Government for this year.

“I think there will be no problem carrying out the investments planned in the 2022 Budget,” he assured.

In this sense, he stressed that “it is time to invest and meet the needs of citizens”.