Javier Campo, president of Aecoc, the association of manufacturers and companies of consumer products, has indicated this Wednesday that 2021 “It is not a year in which taxes have to be raised, although from 2022 it will be inevitable.”
He has ensured this during the 35th Aecoc Congress, which is held annually and which this year has been held in Valencia despite the restrictions caused by the pandemic.
It has drawn the economic scenario in the short-medium term, with an estimated fall in GDP of 13% at the end of this year and a recovery of 6% and 7% for 2021 and 2022 respectively. Consumption will fall by 16%, and between 2019-2022 the fall, they calculate, will be 4%. He believes that recovery will occur in late 2022, or early 2023.
The winter plateau
Campo believes that ERTE should be extended until June because activity in many companies will not recover until spring. Calculate that on “the winter plateau” 15% of business activity will be closed and will reopen in May and June, not March.
In his view, Spain has to regain productivity and “leverage on public investment and exports.” “If we want companies to recover, we must maintain the competitiveness of the economy”, he pointed out.
According to Campo, thanks to the ERTEs, income from work has fallen by only 7%, when they could have fallen by 22%. He has advocated for the revision of the bankruptcy law and the support of the sectors most affected by the pandemic, such as the hospitality industry, which could suffer drops of more than 40% in its billing level.
Campo has vindicated the role of mass consumption and the food industry in this crisis. In fact, they have been the least affected sectors, as they are essential activities.
He has warned that Spain is at the tail of the recovery, and has assured that “After the collapse, there was a comeback that is now losing steam.” “In Spain we live a more prolonged and intense confinement than the average of the European Union, and what we are seeing is that it gives better results to extend the less restrictive measures for longer”
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