Hereu: "We have stopped deindustrialization"

BarcelonaA victory for the productive sector. That's what the Minister of Industry and Tourism, Jordi Hereu, declared today, asserting that deindustrialization has been halted. The secondary sector currently accounts for 15% of the gross domestic product (GDP), but "now, in absolute terms, we are at a 30-year high in industrial added value." After decades of decline, this process has stopped, paving the way for a new phase of reindustrialization "to strengthen Europe." During his address at the 24th congress of the Spanish Confederation of Managers and Executives (CEDE) in Zaragoza, Hereu linked industry to the defense of the European model. At a time he described as "regionalized globalization," the minister emphasized that industry means greater productivity, one of the challenges facing the Spanish economy. It also enables innovation and increased exports, thus leading to a higher quality of life.

One of the Spanish government's priorities, he said, is "to work towards the reindustrialization of Spain to end decades of offshoring of productive activity and begin a path of reindustrialization." And also in the field of tourism, "the goal is to transform ourselves to maintain the country's clear leadership." He stated that up to September, 76 million visitors were received, a 3% increase, and spending reached 105 billion euros, a 7% rise.

In both sectors, he highlighted the importance of the European Next Generation funds and their deployment through PERTE (strategic projects for economic recovery and transformation). In his view, it is about "reindustrializing ourselves to strengthen Europe, because it is the model of greatest freedom and well-being." Hereu has warned that it will be very difficult to defend the European way of doing things "if we don't strengthen Europe's economic and productive base," which will also contribute to financing the welfare state, one of the defining features of the model. The minister has warned that the European model "has enemies" and that is why "we must relocate productive activity to Europe. He defends globalization because it has reduced poverty, but now comes the stage of Europe's strategic autonomy, and strengthening it is the first element." Throughout his speech, he emphasized that the country is "in a phase of active industrial policy like never before." He admitted that there are challenges such as administrative simplification and also competitive advantages to which the commitment to renewable energies has contributed. "That's why international operators are coming," he added. Risk in the stock market, public spending, and "no banks"

On the same day, the Vice President of the European Central Bank (ECB) stated that the European economic situation "is better than expected a few quarters ago." He also recalled the impact of the tariff agreement with the US, which, in his opinion, has been "bittersweet." An escalation of the trade war has been avoided, but European industrial products have gone from an average tariff of 3% to nearly 15%. He also warned of a possible stock market "correction," but not one on the scale of the financial crisis. dot com in the early 2000s. Another risk is fiscal, since, in addition, it will be necessary to "spend more and better on Defense." And a third risk is the so-called "non-banks," which range from funds to private markets, made up of hedge funds.and the private cottage and that they have an increasingly close relationship with banks. He added that they are also heavily indebted and lack the same level of supervision and regulation as traditional financial institutions. The congress will be closed by Isidre Fainé, president of the CEDE Foundation, the La Caixa Foundation, and Criteria; and Jorge Azcón, president of Aragon.