Sánchez: "We have shown that the interests of citizens and business can be aligned; today our economy is at the forefront of Europe"

President's News - 2023.11.28

  • x: opens new window
  • Whatsapp: opens new window
  • Linkedin: opens new window
  • Send: opens new window

Pablo VI Foundation, Madrid

During his speech, Sánchez praised the initiative of this association "committed to collaborating in the promotion and international projection of the Spain brand", while he asked them to "continue to persevere" in this endeavour, "because Spaniards deserve it" and "because, for the first time in a long time, our interests are aligned", given that "ten years ago the economy was at the back of the pack" and "today it is at the head of Europe", he affirmed.

"The old outdated dogmas are long gone", Sánchez added, "and we have all understood that we have two extraordinarily important transformations ahead of us: the digital and the green, and that we cannot do them alone, that companies and the public sector need each other". As well as that, "we have shown that Spain does not have to choose between creating jobs and improving the conditions of its workers. We have shown that Spain can grow and, moreover, make that growth fairer. And that Spain can increase its industry and make it sustainable; also socially and territorially".

In short, "we have shown that the interests of citizens and companies can be aligned - also those of the public sector - and this means that our country has more and better conditions to be an unstoppable country", as shown by the GDP data, the inflation rate and job creation. And now, he continued, it is a matter of "looking ahead with ambition" and "giving continuity to an effective economic policy; one that has offered stability and confidence. It is about consolidating progress.

The President of the Government of Spain said that our country is no stranger to the uncertainties that persist (high inflation, a restrictive and high monetary policy and weakened world trade), but he stressed that, in this context, it is wonderful news "that Spain continues to inspire confidence". In fact, "despite the doomsayers, all the forecasts are favourable for Spain, and now it is time to continue working to make them a reality", he stressed.

In this sense, he assured that "this Government wants to continue offering certainty and predictability. In particular, for those who choose Spain as a preferred destination for foreign direct investment. Therefore, the commitment to stability, social peace, progress and coexistence that we are making has an obvious economic dimension. And we will persevere on that path.

Family photo of the closing ceremony of the congress of the Multinationals with Spain association on its 10th anniversary | Pool Moncloa/Borja Puig de la Bellacasa

Specifically, Sánchez highlighted that the volume of foreign direct investment exceeded 56.3% of GDP in 2022, "a figure well above the world and OECD average"; which is the "expression of a trend", since, he added, "in this decade, the share of foreign direct investment in our economy has increased by 9.2 points over 2013".

In addition to the favourable outlook for foreign direct investment, there is also the impact of the European funds. The head of the Executive highlighted that "more than 500,000 projects are underway, financed with more than 30 billion euros of NextGenerationEU funds, 60% of which are led by companies and research centres". In other words, "the effort we are making in such a difficult context as the current seems to me to be formidable and this is not only a consequence of the work of the public administration, but also of the business community and the multinationals".

As in his investiture speech Pedro Sánchez concluded by pointing out that "Spain has the talent, the companies, the institutions, the infrastructure, the civic values and the international prestige necessary to be one of the most prosperous and socially advanced countries in the world. We want to have the multinationals on our side who are already with us, who know us, and who are already part of our country.

Stop the barbarity of sex-based violence

Before beginning his speech, Pedro Sánchez referred to "the unceasing barbarity of male violence", specifically referring the murders of two women and a five-year-old girl in Madrid recently, which bring the number of victims so far this year to 56 (54 women and two minors).

"This is simply unbearable. It is the duty of all of us, public administrations and also the private sector, to raise our voices; to rebel against this infamy; and to fight with all our strength, especially men, to stop this social scourge that is incumbent upon and shames us all as a society: public authorities, families, companies and civil society". "We have a duty to stop, once and for all, what is nothing but moral misery that leaves so many orphans, so much pain and so many unlived lives of women victims of this unbearable male violence", he stressed.

Non official translation