Since part of the increase in wage costs was passed on to prices of products and services, the annual price inflation rate rose to around 3 percent. While it needs to be taken into account that expectations at the time were excessively bullish, firms increased fixed investment, boosting labor productivity.
As to the fiscal accounts, we can see that on the right axis the fiscal surplus accounts for almost 4 percentage points of our GDP. On the left axis, in red, we have primary expenses, income. There is clearly a surplus providing good backing for healthy policies. Finally, while exports and imports are growing, some gaps still exist.