Political instability doesn’t seem to have affected the Catalan economy

Barcelona (CNA).- The 27-S Catalan elections and the uncertainty surrounding the constitution of a new executive didn’t affect the Catalan economy during the fourth quarter of 2015. In fact, the economy grew by 3.7% between October and December in comparison to the same period last year, similar figures to those registered before the economic crisis. To keep on advancing on the path of economic recovery and to respond to Catalonia’s push for independence, the president of Barcelona’s Chamber of Commerce, Miquel Valls, called for “the widest consensus possible” amongst the main parties with representation in the Spanish Parliament. He also emphasised the “fundamental” need to keep the relationship and the compromises established with the EU.

According to the Chamber, the Catalan economy grew by 3.2% in 2015, which is more than double the figure for 2014, when the GDP increased by 1.5%. Valls has kept his estimate for 2016 of an expected 2.8% growth in GDP, although he suggested that this figure could be even higher if fuel prices continue to drop. Therefore, “the increase in global risks and the political instability” doesn’t seem to have affected the Catalan economy, he added.

Valls celebrates the Catalan Government’s “prudency and realism”

Valls also expressed his satisfaction with the new Catalan government, which he described as “prudent and realist regarding the economic situation”. “From an economic perspective, the stability is well-regarded” he stated and added that regardless of the calendar and the duration of the negotiations, now “there is a government which is working”.

“Consensus” and “constitutional reforms” to guarantee the “territorial stability”

“All parties are necessary to carry out constitutional reforms, not only some of them” stated Valls. “Consensus and agreements between all the parties are required. Therefore, these are the assignments for the four main parties in the Spanish political panorama”. Valls emphasised that such consensus is “fundamental to guaranteeing the territorial stability”.

The president of Barcelona’s Chamber of Commerce also emphasised the “fundamental” need to maintain the compromises with the EU and lamented that this is not “usually commented upon”. Following this, he reminded those in power that the 40-billion-euros loan to rescue the banks is what led to the recovery of the risk premium and brought back the trust in the Spanish market.

Valls also urged the parties to agree on economic reforms in order to reduce the unemployment rate, promote companies’ competitiveness and guarantee budgetary stability.