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Editorial: La Vanguardia

  • The Spanish economy, while boasting positive growth data in the first quarter and favorable results from the country's big companies, faces long-term challenges that require extensive political consensus.
  • A massive challenge is to ensure the sustainability of pensions due to the growing deficit caused by the growth of benefit expenditure against contribution income.
  • Spain needs to attract 25 million immigrants over the next 29 years to meet labor needs and social security contributions due to an ageing population.
  • The urgent need for a fiscal consolidation plan to reduce the high indebtedness of the state is another significant concern.
  • Although the growth of the Spanish GDP and employment is positive, it masks a new decline in productivity, which affects the competitiveness of companies and the quality of jobs.

Conclusion: Despite a good short-term economic performance, mid and long-term challenges should not be overlooked. Political leaders are urged to establish dialogue frameworks and focus on these critical challenges.