The economy and finance minister explained that the economic data for Euskadi is “good” and assured that if Russia cuts gas supplies to Europe, the Basque government will take the necessary measures to be in the best conditions.
The Minister of Economy and Finance of the Basque Government, Pedro Azpiazu, assured when presenting the annual report of the Basque economy 2021 that the Basque Country has a “solid” economy and that it will be able to absorb the effects of inflation.
“The Basque Country will face uncertainty, with obvious prudence and prudence, trying to cope with the consequences of inflation for the citizens, but from an economic situation that we consider to be solid,” the councilor said after listing the “positive” data announced last week on Euskadi’s economy.
Azpiazu admits there is still uncertainty among citizens and businesses, and even more so in light of a hypothetical shutdown of Russian gas to Europe. However, he pointed out that the Basque government is already taking the necessary steps to be “in the best of circumstances” should that happen. For example, he explained that the Basque Country has a great infrastructure, such as Bahía de Bizkaia Gas, which allows gas to be imported from all over the world in methane tankers. For this reason, he confirms that the dependence on Russian gas in Euskadi is “minimal” and that the gas supply is “guaranteed”.
As for inflation, the councilor confirms that this is the most worrying point, as it can cause the most problems in Basque society. The most recent data available places the CPI for the Basque Country at 9.6%, for Spain, announced today for July, at 10.8% and for the euro area at 8.6%. “These are very high numbers and it is not clear that they have peaked,” he stressed.
He explains that raw materials and energy have become more expensive, although they have been getting cheaper for a few months, and that this will carry over to the rest of the products, “but it won’t be a quick process”.
Following Azpiazu’s speech, Deputy Minister Iñaki Barredo believed that the Basque Country faces a range of challenges in the medium term, including the ecological energy challenge, digital technology and social demographics.
(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “//connect.facebook.net/es_ES/sdk.js#xfbml=1&version=v2.8”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));
Source: EITB

I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.