The presentation of the 2024 Yearbook of the Galician Economic Forum, held yesterday in A Coruña, highlighted some of the main challenges facing the Galician and Spanish economies, highlighting the little change in productivity and return to spending rules that Spain and Brussels must reach an agreement and also affect the autonomous communities and city councils.
In the case of Galicia, although they recognize that productivity has evolved “a little better” compared to the rest of the country, they recognize “a a significant challenge due to its aging workforce“, which joins decades with a double-digit unemployment rate. It is for this reason that the Forum recommends that the Xunta address regional policies in key areas such as training, investment in R&D&I and infrastructure. And they highlight absenteeism at work as a “serious problem”, both in Spain and Galicia, which requires a “broad social agreement” and greater control to avoid fraud.
Another key point will be the agreement on new spending rules with Brussels, the aim of which is to “get back on the path to budget consolidation after the public financial effort made to overcome the crisis,” said the mayor of Facenda, Miguel Corgosfor which the country has “obsolete and unsuitable standards”. Furthermore, Spain does not comply with the budgetary rules on public debt, with a debt greater than 60% of its GDP (90%) and a public deficit greater than 3% of GDP (3.5%).
Among the participants were the Minister of Economy, María Jesús Lorenzana; the president of Abanca, Juan Carlos Escotet; the authors of the study or authorities among public assistants such as the government delegate in Galicia, Pedro Blanco.
Galicia, “better than average”
The minister made special mention of Galician companies, highlighting their “record” exports, “improving the surplus of the first half of the year.” For her part, the minister highlighted the economic situation of Galicia, while asking the Central Executive for “real and loyal” collaboration to promote the reindustrialization of Galicia.
In turn, Escotet alluded to the “crucial moment“from an economic and social point of view and he said that we live in a time of “great challenges”, among which he cited demography, the transformation of the energy model or digitalization with Artificial Intelligence, among other aspects.
While, Lake SantiagoDirector of the Forum, highlighted, from the articles included in the yearbook, the fact that the economic situation has been “Better than expected” in Galiciaalthough he highlighted “problems” in the area of productivity, while congratulating the Galician government for being “better than average” in Spain.
