Sanchez offers the Spanish gas industry as an “answer” to the problem of the EU’s dependence on Russia


The government’s president calls for “confidence” in the Spanish economy and is committed to “increasing productivity and competitiveness” of the country after withdrawing support from the ECB.

President of the Spanish Government
President of the Government of Spain Pedro Sanchez on his arrival in Davos on Monday afternoonfernando.calvo/pool moncloaPoole Moncloa / EFE

The government’s president, Pedro Sánchez, presents Spain in Davos as a future solution to the problem of the EU’s dependence on Russia. “Spain and, I would say, Southern Europe, The Russians will be able to respond to this energy dependence on fossil energy”Sanchez told American network CNBC while attending the World Economic Forum in Davos.

The President claimed that the regasification industry in Spain accounts for 37% of the total capacity of the European Union and almost half of the storage capacity of liquefied natural gas. Even more so, if it includes Portugal. The problem is that this potential has not yet been tapped due to the French and Sánchez governments’ refusal to promote a new gas pipeline through the Pyrenees, the so-called Midcat, but the European Commission is already trying to recover it. Considers “important”. this project.

Sanchez points out that, although gas is still relevant, the future is renewable energy. “This war has also taught us a very important lesson, and that is that renewable energy, hydrogen, energy efficiency are a great ally not only for countries and economies facing climate change efforts, but for this complex and in an uncertain geopolitical landscape. They will also provide us with the means to increase our resilience and autonomy.“, Go.

Facing repeated questions on CNBC about Spain’s ability to continue financing itself after withdrawing support from the European Central Bank to focus on inflation, Sánchez called for “confidence” in the Spanish economy. . ,Fundamentals are pretty solid and first quarter year-over-year growth was 6.3%“, he announced. He submitted that there was an economic slowdown between January and March with only 0.3% quarter-on-quarter growth.

He also recalled that his official forecast is for 4.3% growth this year and that “employment growth is quite impressive” when it reaches the level of 20 million associates. ,We are committed to integrating [ajuste ] and with increased competitiveness and productivity of the Spanish economyHe has pointed out that “it is important” that the policy of the ECB is “aligned” with a European budget of more investment to transform European economies after the pandemic.

The socialist leader has assured that he does not foresee funding difficulties with the new ECB policy due to the restructuring of public accounts, a “commitment to the structural reforms agenda” and European funds. “Our forecast is to reduce the public deficit to 3% of GDP and debt to 110% in 2025” [siguiente legislatura],has reaffirmed by underlining that, in parallel, Spain is a beneficiary of European funds in which it has ensured that it has not only public money, but private investment as well.

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