The Government plans to recover the level of pre-pandemic economic activity before the end of 2021

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Nadia Calvin, First Vice President of the Government and responsible for the economic area, has presented the economic picture planned for the remainder of 2021 and 2022. The forecast that GDP will grow by 6.5% this year and 7% next year is maintained, although the Banco de España is not so optimistic.

In fact, by the end of the year, Calviño has assured that all economic activity and employment lost by the pandemic will have recovered. That is the first quarter of 2022 will be the first with ‘net’ growth compared to 2019.

On the other hand, the vice president has valued the impact that the measures that have been taken on the price of energy consumption will have on inflation, which today is triggered by the pressure generated by “international energy prices.” According to Calviño, it will go down by about four tenths.


In the ‘upheaval’ of the economy, Calviño has highlighted the importance of vaccination, the improvement of investment and the recovery of consumption and tourism. This has had a lot to do with the precautionary savings that now households are spending.

“Our estimate points to a saved saving of 50,000 million euros“Calviño has calculated, which will allow maintaining” the improvement in consumption in the coming months. “It should be remembered that, in parallel to these statements

These macroeconomic estimates will be included within the State’s general budgets that the Government will present within one or two weeks, as indicated by Calviño after the press conference of the Council of Ministers.

On the other hand, Isabel Rodríguez, Minister of Territorial Policy and spokesperson, has reported that Calviño herself is negotiating with banking entities the transfer of real estate on La Palma for the population evacuated by the volcanic eruption on Isla Bonita.

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