Miguel Cardoso

In an environment of high volatility in the markets, their absence can contribute to doubts about the evolution of the fiscal consolidation process in the medium term. Miguel Cardoso, Chief Economist for Spain and Portugal at BBVA Research, explains to this newspaper that the absence of budgets represents a source of uncertainty for institutions and companies that use them as a reference, whether as a guide for preparing their accounts - such as the autonomous communities - or for their investment prospects, those that depend on public works. #Elecciones2026 #PresupuestosGenerales #EconomíaEspañola (translated)