No one doubts that the last two years have not been easy for the governess in Spain: at the beginning of the imprisonment, on March 15, 2020 he joined invasion of ukraine Just a hundred days ago. The problem is that difficulties are more difficult to overcome when you are not prepared, and Spain was not.
Debt and public spending have increased since Pedro Sanchez came to power on June 1, 2018, but he has already Conflict appeared before the pandemic and in Ukraine, Only in Sanchez’s first six quarters, before the arrival of Covid, did the state’s losses almost increase 140,000 million.
The debt was already almost 100%, and in recent years it has increased to over 120%, all in a difficult environment In which the government never wanted to set an example by tightening its waist while reducing the political expenditure of its twenty-two ministries.
our high debt will put us a difficult situation When the European Central Bank will stop buying it and possibly raise interest rates from July. About 100,000 million in Sanchez . has increased public spending last two years, and this expense must be financed, as the income is less than its cost. It has managed to bring public spending above 50% of GDP.
within this public expenditure is that destiny pensionJoe Sanchez and his minister Escriva have decided to link it with the development of CPI, If they were to be revalued by the Bank of Spain as expected for this year by the average inflation increase of 7.5%, the amount allocated for pensions should be an additional 10,700 million over those budgeted, as calculated by economist Lorenzo Bernaldo . Quiros.
Added to this powerful item of expenditure, which in 2023 could reach 200,000 million euros, would have to be paid by an increasing amount public employment, Since the arrival of Sanchez, the number of officers has increased by more than 360,000. The total figure exceeds 3.5 million public employees. Economists such as Fernando Méndez Ibiset argue that we do not need as much, even though we have less than other European countries.
The system doesn’t work, and the evidence is not enough to stop income growth. social security loan, Although we break fiscal invoicing records, the fact is that the hole has grown by over 60,000 million euros since Sanchez arrived, and that figure is Dangerously close to 100,000 million.
The system is headed for bankruptcy, and it does so in the context in which we will remain Europe’s champion in unemployment, Yesterday Eurostat re-published that we have unemployment (13.5%) almost twice the average of the Eurozone (6.8%), which is also suffering from the pandemic and the invasion of Ukraine.
Neither do citizens look like they’re doing anything conclusively taxes, as has been done across Europe, although 73% of the products in the shopping basket have increased by more than 5%; nor the government Overcome your personal income tax So that the increase in wages due to inflation does not have to pay more tax, nor it electricity rate Another measure of the daily cost of electricity, which can be done at any time and is actually done throughout Europe so that prices do not skyrocket.
At this time all the government does Expand measures that are barely effectivesuch as a 20% bonus on fuel, and that still doesn’t solve problems like low performance european fund,
Sanchez has also managed to create a framework in which the foreign investment received is 5,913 million less than when he became president. The economy slows down and prices rise on the way to a potential impasse. In the opinion of economist José María Rottler, “either it is deeper”. reforms Immediately – energy, pensions, the public sector – spending is reduced – its inefficiency is eliminated – and taxes are reduced – at least, to offset the increase in inflation and, even more, boost the economy. For – or we could lead to a very worrying situation for the Spanish economy, which leaves us in a worse position in the medium term than in 1996 and 2011. However, the government is going in a fundamentally opposite direction which leads us to poverty”.
Sanchez mortgaged the future of the Spanish in just four years