Pedro Sánchez shows his "optimism and confidence" in view of the good economic and social moment Spain is experiencing

The President of the Government of Spain, Pedro Sánchez, with His Majesty the King during the traditional summer meeting (Pool Moncloa/Fernando Calvo)

The President of the Government of Spain has travelled to Mallorca, where he held his traditional summer office with His Majesty the King, Felipe VI, at the Marivent Palace in Palma. In an appearance before the media after the meeting, Pedro Sánchez emphasised that "the economic situation that Spain is experiencing is frankly positive, especially if we compare it with other economies around us, due to the complex international scenario that the world is going through", and "demonstrates the dynamism and vigour of an economy that is resisting the challenges".

The Chief Executive summarised that "the Spanish economy, job creation, policies to reduce inequality and an international agenda in which Spain projects a coherent policy of respect for international law, whether this is in Gaza or in Ukraine, as well as "opening up to other trade blocs, such as the Southern Common Market invite optimism and confidence in the possibilities, as well as the economic and social moment Spain is experiencing".

He thus reviewed the national accounting data for the last quarter. "The IMF once again projects Spain as the fastest growing major European economy for the second consecutive year in Europe", with a forecast of 2.5%. Year-on-year growth in the latest national accounts data is 2.8%, and the Government of Spain's forecasts are 2.6% for this year. He also celebrated the 22 million people in employment, which amounts to over 580,000 new employees in year-on-year terms, "with an unemployment rate of 10%, which we have not seen since 2008".

Government action against inequality

The President of the Government of Spain focused on the fact that "the main challenge continues to be inequality", which "is most dramatically reflected in child poverty, which still affects millions of children in Spain". In this regard, he reaffirmed his commitment to social cohesion to reduce inequality, and informed HM the King about the Government of Spain's action to bring this to the lowest levels in 15 years and to a poverty rate that is at the lowest in the historical series.

He also highlighted the latest measures for reconciling family and work approved by the Council of Ministers, which represent a new social advance.

Developments where the Housing Law is being applied

Housing was one of the central themes of the President's appearance before the media, given the impossibility for many Spanish citizens to rent or buy a property. In this sense, he highlighted the progress that is being made where the Housing Law is being applied and urged all the regional governments to apply the law.

Pedro Sánchez appears before the media after meeting with His Majesty the King | Pool Moncloa/Fernando Calvo

"We have intervened in a market that was clearly not working", he reiterated, comparing situation with the one in which the Iberian solution was applied to solve the energy crisis. "We will have to do the same with the housing market," he said in defence of state intervention: "That is what the Housing Law is - enabling the public authorities to intervene in a market that clearly does not obey the logic of supply and demand".

International agenda

On international matters, Pedro Sánchez explained that they had discussed the trade agreement reached yesterday between the European Union and the United States, as well as the Government of Spain's position on other trade agreements "which hopefully can be reached in the future and which are of particular interest to Spain", such as, for example, the agreement between the European Union and Southern Common Market to create the largest free trade area in the world. He also briefed the Head of the Spanish State on his recent visits to Mauritania, Chile, Uruguay and Paraguay.

Meeting with the President of the Government of the Balearic Islands and current political affairs

The President of the Government of Spain also held a meeting with the President of the Balearic Islands, Marga Prohens, at the headquarters of the Presidency, at the Consolat de Mar, with whom he discussed matters of interest to the Balearic Islands.

The President of the Government of Spain, Pedro Sánchez, during his meeting with the President of the Balearic Islands, Marga Prohens, in Mallorca | Pool Moncloa/Fernando Calvo

Pedro Sánchez defended the Government of Spain's migration policy, stating that migration "is a phenomenon that affects the whole of Europe and is therefore a European policy". On the application of the agreed distribution of migrant minors, he pointed out that "the law is there to be complied with, and a party that is a state party has to comply with the law". "The law is being complied with and the governments, in this case the regional governments, have to comply with the law and the chambers", he stressed.

In terms of regional funding, the President emphasised that, under his presidency, the Balearic Islands have increased their resources from the General State Administration by 60%, and with the debt relief, the debt of the Balearic Islands Government would be reduced by 20%.

Non official translation