Spain’s Central Bank Highlights Key Factors Shaping 2025 Economic Outlook
Madrid, November 6, 2024
The Bank of Spain (Banco de España) today hosted a conference titled “Main Factors Influencing the Macroeconomic Outlook for 2025,” organized by the Spanish Association for Management Progress (APD). The event brought together experts from the central bank and other institutions to discuss the economic challenges and opportunities facing Spain in the coming year.
Keynote Presentation: Uncertainties and Risks in the Global Economy
The keynote address was delivered by Carmen Reinhart, Chief Economist of the World Bank. Reinhart highlighted the significant uncertainties and risks facing the global economy, including geopolitical tensions, supply chain disruptions, and rising inflation. She emphasized the importance of proactive policymaking to address these challenges and ensure sustainable economic growth.
Panel Discussion: Determinants of Spain’s Economic Outlook
Following the keynote presentation, a panel discussion was held to examine the specific factors shaping Spain’s economic outlook for 2025. Participants included:
- José Luis Escrivá Belmonte, Minister of Social Security and Inclusion
- José María Álvarez-Pallete López, Executive Chairman of Telefónica
- Ángel Gurría Treviño, Former Secretary-General of the OECD
- Reyes Maroto Illera, Minister of Industry, Trade, and Tourism
Key Findings:
The panelists discussed a wide range of issues, including:
- Fiscal and monetary policy: The government’s fiscal policy stance and the European Central Bank’s monetary tightening cycle were identified as key determinants of Spain’s economic growth and inflation outlook.
- Labor market: Spain’s labor market remains a source of concern, with high unemployment and underemployment levels. The panelists emphasized the need for structural reforms to enhance job creation and productivity.
- Digitalization: The transition to a digital economy was seen as a major opportunity for Spain to boost economic growth. However, challenges remain in terms of infrastructure development and digital skills.
- Green transition: The panelists highlighted the importance of investing in green technologies and promoting sustainable development to meet the challenges of climate change.
Conclusions:
The conference concluded with a call for prudent and proactive macroeconomic policies to address the uncertainties and risks facing Spain’s economy in 2025. The Bank of Spain emphasized the need for continued fiscal consolidation, monetary tightening, and structural reforms to promote sustainable economic growth and stability.
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Bacno de España – News and events a new article on 2024-11-06 09:15 titled “D.G. Economía. Asociación para el Progreso de la Dirección (APD). “Principales aspectos que condicionan las perspectivas macroeconómicas para 2025″”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
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