The Independent Authority for Fiscal Responsibility (AIReF) has published the estimate of the GDP of the autonomous communities for the second quarter of 2021 where the Valencian Community stands out as the third autonomy with higher economic growth in interannual terms with 23.9%.
The methodology used by AIReF is ‘Quarterly Estimation Methodology by Autonomous Communities of GDP’, and is based on the data published by the INE on July 30 through the ‘Quarterly National Accounts of Spain’, in terms of data for the second quarter of 2021.
It should be noted that this growth that the Valencian Community has experienced is four percentage points higher to the rest of the national group that has been 19.8%.
The AIReF also collects the quarterly economic growth that in the Valencian Community has been 2.9%, a figure higher than that of Spain (2.8%) and that places the economy at the level of the first quarter of 2020, therefore Regarding GDP, a fact that indicates the good evolution in macroeconomic terms of the Valencian economy, considering the strong economic crisis caused by the COVID-19 pandemic.
Policies of the Sustainable Economy Department
The Minister of Sustainable Economy, Productive Sectors, Trade and Labor, Rafa Climent, has assured that “this favorable evolution of the economy of our territory must be linked to the support policies for the productive sectors of the Valencian Community implemented by the Department of Sustainable Economy “.
In this sense, he has highlighted the effort of the Economic politics implemented since the beginning of the pandemic to face, firstly, the sanitary and public health crisis, and secondly, to support the sectors most affected by the restrictions derived from the pandemic, especially those aimed at working people, Valencian autonomous and SMEs, with a set of public spending and investment policies.
Likewise, it has pointed out that the good evolution in terms of GDP is consistent with the evolution, in quantitative terms, of the labor market, as indicated by the data on registered unemployment and employment expressed in a situation of registration with Social Security.
For the holder of Sustainable Economy, in this framework, and taking into account the favorable economic evolution, it is necessary to reinforce both social protection within the framework of the Valencian production model, such as the policies for changing the economic model in terms of economic and environmental sustainability.
“That is why – he continued – that the resources that have to reach the Valencian Community, both in terms of the Recovery, Transformation and Resilience Plan, must be directed to the economic policies developed by the Generalitat and the Department of Sustainable Economy, to favor the reactivation of the economic recovery, also in terms of justice and social equity, decidedly inclusive and transformative “.
In the same way, Climent has highlighted the sectoral conferences with different ministries in which the Ministry of Sustainable Economy participates, and its link with the reinforcement of the evolution of the Valencian economy.
Other actions of the Ministry of Economy that have contributed to obtaining these positive data are the commitment decided by the reindustrialization of our territory with actions such as the PEIV, the Plan for the Improvement and Modernization of Industrial Estates, the Industrial Land Map, the Industry 4.0 Agenda or the development of the territorial network of proximity agents.
We must also highlight the Strategic Plan for the Foreign Promotion of Valencian companies, the Investment Acceleration Point, the Strategic Plan for the Attraction of Foreign Investment or the actions before Brexit.
In terms of innovation, the Business Innovation Plan and the Business R&D Plan have been launched, and it has opted for innovative entrepreneurship and support for the Technological Institutes.
Regarding energy policies, the commitment to the change of the energy model and the decarbonization of the economy has continued with initiatives such as the Sustainable Energy Plans of the Valencian Community 2020, the Promotion of Energy Self-consumption, and the Promotion of the Vehicle
Likewise, actions have been developed to consolidate a balanced trading model with the Plan to Promote Electronic Commerce, the Lonja Pact on business hours, Support programs for local urban commerce and handicrafts or the Modernization of Municipal Markets and the Sustainable Commerce Law.
Stable and Quality Employment has also been supported with the Avalem Joves and Avalem Experiència Plans, the Mixed Employment and Training Programs, the Fent Cooperatives Plan and the Valencian Observatory of Decent Work, among others.
Eddie is an Australian news reporter with over 9 years in the industry and has published on Forbes and tech crunch.