Stability Program. Surplus of 0.3% and economy growing 1.5%
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The Government has already delivered the Stability Program to the Assembly of the Republic, where it forecasts for this year an economic growth of 1.5% and a surplus of 0.3% of the Gross Domestic Product (GDP), however, it does not incorporate the impact of new measures decided by the Executive, hence the Public Finance Council (CFP) decided that “it is not susceptible to an opinion for endorsement purposes, as it is based on a scenario in invariant policies”.
The document also says that exports will remain as a driver of economic development, but expects them to slow down to 3.1% due to the international situation, while imports are expected to increase 4%, due to the “dynamism of domestic demand and, in particular, investment”.
The public debt forecast is expected to remain at 95.7% this year and the inflation rate is expected to fall to 2.5% this year, below the 3.3% projected in October, maintaining the reduction trajectory until reaching 2026 the 2% level.
It is true that the delivery of the Stability Program this year represents above all a calendar formality, since with the new European budgetary rules the document loses the weight it had, being replaced by medium-term budgetary and structural plans, which must be sent by the Member States to Brussels by 20 September.
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