• Nadia Calviño has appeared in the Economy Commission of the Congress, where she has taken stock of the actions carried out
  • He has announced the presentation at the next Council of Ministers of the Draft Law for the Digital Transformation of the Financial Sector (sandbox)
  • The good collaboration with all Ministries, regulatory bodies and other institutions has allowed the development of initiatives such as the Change Agenda or the Macroprudential Authority

The Minister of Economy and Business, Nadia Calviño, has appeared at the Economic Commission of the Congress of Deputies, where she has taken stock of the actions carried out in economic matters.

Spain closed 2018 with a growth rate of 2.5%, higher than that of the euro zone, which grew 1.8%. The positive growth differential increased in the second part of the year. All forecasts suggest that the Spanish economy will continue to grow above the average of European countries in 2019. National demand will continue to be the main driver of growth, with a notable dynamism of investment and the reduction in the rate of unemployment up to 14% on average in the whole of 2019.

The good economic situation and the growing confidence of international markets is facilitating better financing conditions. The cost of public debt has been at record lows.

One of the factors that explain this confidence is the positive evolution of public finances. Government management has allowed 2018 to close with a deficit of 2.7% of GDP. With this, Spain has emerged from the “corrective” arm of the community tax rules. In addition, in 2018 the reduction of public debt has accelerated from 98.1% to 97% of GDP.

Fiscal consolidation has been one of the axes of the Government's economic policy along with social cohesion and the reforms articulated around the Change Agenda; roadmap of measures and reforms that the Government has followed to move forward and respond to the challenges and imbalances of the Spanish economy.

The Minister of Economy and Business has stressed that this project, as well as the development of others, has been possible thanks to the joint work of the Government within the Delegate Commission for Economic Affairs and the improvement of collaboration with regulatory bodies and others Institutions

On the projects under development, the minister announced the presentation next Friday to the Council of Ministers of the Draft Law for the Digital Transformation of the Financial Sector, to create a controlled test space that provides an adequate framework for supervision and regulation of Technological developments

In relation to the activity carried out in these months, the Minister of Economy and Business has highlighted the unlocking of the process of transposition of directives, which has allowed the incorporation of seven of the 14 pending directives into the Spanish legal system, which reinforce the protection of consumers, citizens and investors. The adoption by the Plenary Session of the Real Estate Credit Law planned this Thursday will allow the final phase of transposition of one of the most significant Directives that were pending.

In the field of digital advancement, different measures have been developed to support the deployment of infrastructure and the digital transformation of the economy. Among the projects promoted, the spectrum auction and the implementation of the road map of the second digital dividend, necessary for the deployment of 5G technology, should be highlighted.

Finally, the Digital Future Society initiative has been promoted, within the framework of the Mobile World Congress of Barcelona that begins next Sunday, as an instrument of reflection and debate that places the citizen at the center of the digital transformation of society.

During her appearance the minister has emphasized the good progress of the Spanish economy. He stressed that the government has been working at all times "to close the wounds of the crisis and lay the foundations for a project full of hope and hope for the future", with the clear objective of moving towards inclusive and sustainable development from the financial, social and environmental point of view.



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