Economy Calviño places employment as its priority while the rise...

Calviño places employment as its priority while the rise of the SMI already penalizes the labor market


After planting the Ibex 35 and more than 150 international investors yesterday, Nadia Calviño has chosen to attend the closing of the Spain Investors Day, organized by Estudio de Comunicación. The presence of Vice President Teresa Ribera was planned but, finally, it was the economic responsible of the Government who went to the Intercontinental Hotel in Madrid, where the event was held.

With more influx than yesterday and significantly more stir among the attendees, Calviño has slipped what will be the Executive’s main lines. The digital / technological transformation, the “green” transition, maintaining sustainable economic growth and improving the labor market.

“Maintaining economic growth and job creation are our priority,” he said before a room that awaited the vice president’s speech in a sepulchral silence. And he added: “The evolution of the labor market has been very positive.”

Calviño, in this way, has valued the management of the PSOE in the Government. Just the same day that BBVA has announced that the rise in the Minimum Interprofessional Salary (SMI) has prevented the creation of some 45,000 jobs. Initially, at the beginning of 2019, the bank’s research service predicted a fork of between 20,000 and 60,000.

He also highlighted the robustness of Spanish economic growth, with an average of 2.5% in the last five years. A figure in the already stressed yesterday the Secretary General of the Treasury in the same forum. And he continued that, despite international tensions, Spain has better withstood the climate of global uncertainty and the slowdown in developed countries.

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In terms of inequality, the vice president has commented that they will work to “avoid abuses in the labor market.” “We have to reduce inequality between people of different incomes, between regions, of gender …”, he emphasized. Calviño, in these terms, has assured that they will eliminate the most harmful aspects of labor legislation, which will be studied in the coming months, as announced by the Secretary General of the Treasury yesterday.

«Green» Challenge
In line with the Government’s action to elevate the Ministry of Ecological Transition to the category of Vice Presidency, the Government’s economic officer has put this “challenge” as an essential part of the political agenda.

In this sense, Calviño has commented that the “green” opportunities aspire to mobilize a public-private investment of around 200,000 million euros by 2030; and that the jobs that will be created due to it will amount to 300,000.

To achieve its objective, it has also launched a message to financial institutions, pointing to banks as an essential part of this transition. Both as an active part in the form of direct actors and in terms of financing. In addition, precisely yesterday Larry Fink, president of BlackRock, sent his traditional letter to CEOs of large companies in which he warned that his manager would penalize companies that do not comply with the transition. Everything starts to revolve around the weather. .


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