The Spanish economy has begun to show signs of slowdown in the second quarter before the increase of the uncertainty at global level. Therefore, in the CEOE Board of Directors, held this morning at the headquarters of the employers, businessmen have stressed the importance of that the future government implements the necessary economic measures to ensure that the Spanish economy is able to meet the challenges posed by the slowdown.
After the lack of agreement between the parties to form a government and waiting for new elections, the businessmen show their concern about the lack of stability necessary for the work of the Spanish business fabric. CEOE emphasizes the importance of maintaining business competitiveness despite political paralysis and warns of the vulnerability of the Spanish economy to international risks such as the rising price of oil, the commercial tension between China and the United States and the uncertainty caused by Brexit.
Entrepreneurs have wanted to highlight the importance of the future government being aware of the situation of slowdown in the Spanish economy, although it is among the fastest growing in Europe. In addition, CEOE has requested budgetary rigor highlighting the high public debt that Spain currently has, of 98%, of which 70% is in foreign hands.
The Quarterly Report of the Spanish Economy, published by CEOE, indicates that in the second quarter of 2019 the GDP has registered a growth of 0.5%, two tenths less than the previous quarter. This lower progress has been mainly due to the slowdown in its investment component, which may be undermined by the increase in uncertainty at the national and global levels.