Inflation and the energy crisis predict a black autumn and winter for the Spanish economy
The cold months are gradually approaching a Europe struggling to obtain enough gas reserves to overcome the winter.
Pessimism is on the rise in Sánchez’s Spain. After five quarters in which the Spanish economy seemed to recover slowly from the tremendous blow inflicted by the pandemic, a new brake arrives from autumn. The incoming signals are not good.
The cold months are gradually approaching a Europe that is struggling to obtain enough gas reserves to survive the winter. The low flow from Russia has boosted gas prices to levels seventeen times higher than normal. The possibility of energy rationing in Europe is on the table. And to that is added inflation above 10 percent, high unemployment and rising mortgages.
The Sánchez government does not seem to know what to do and is limited to adopting cosmetic measures or approving, vineyard decree law, new occurrences. The most uncertain winter for Spaniards for 40 years is approaching. Prices soar, wages stagnate, families’ purchasing power deteriorates.
This combination of turbulence causes many analysts to predict a recession in the second half of 2023, the year in which Spaniards will finally be called to the polls to say if they want Sánchez and his cronies to stay in government or go home.