El impulso debe ser sostenible

Director de Portafolio21.11.2025 18:28 Actualizado: 21.11.2025 18:28

El impulso debe ser sostenible

TL;DR

  • Economic growth is driven by spending, not productivity, posing medium-term risks.
  • State spending has reached historical levels, boosting sectors like public administration, education, and health.
  • Commerce has grown significantly due to strong domestic demand.
  • Fiscal rule remains suspended, deficit is around 7% of GDP, and public debt is expanding.
  • Foreign direct investment from the US has fallen by 15% due to regulatory uncertainty and lack of legal security.
  • Mining and quarrying sectors have declined, and construction remains negative.
  • The trade deficit is growing as imports increase faster than exports.
  • Recommendations for sustainable growth include restoring fiscal discipline, generating confidence for investment, diversifying the productive matrix, and boosting private investment.