The Minister Miguel Sebastián attends a forum organised by the CEDE and EADA

These were Miguel Sebastián's comments during a breakfast discussion forum organised yesterday by the Spanish Confederation of Managers and executives (Cede). EADA took part in the event through a live videoconference forum.

According to the minister, foreign investors continue to have faith in our country's economic capacity and in recent months they have contributed 17 billion euros to the economy. Furthermore, he added that the Spanish economy will reach a 3% growth rate by the end of this term of office. For the first time Spain is in a condition to face an adverse economic environment with the treasury in order and with a "substantial asset", its public surplus. The minister praised the strength of the Spanish economy and attributed it to the efforts of entrepreneurs and trade-unions, "who have set an example of responsibility and collaboration", as well as to the work of successive governments.

Energy saving

On energy, Sebastián announced the new Energy Saving Plan which the Ministry of Industry intends to pass before the end of the month.

This will promote the development of energy service companies with the aim of "helping consumers and companies to find and finance saving formulas and instruments" said the minister.

New energy service companies will receive financial and regulatory backing as well as help with capital formation and this will enable them to improve on electricity consumer efficiency, which will mean a greater competitive advantage, explained the minister.

Sebastián pointed out that the new plan will reinforce the Spanish Strategic Action Plan for Saving and Efficiency 2008-2012, the aim of which is to reduce the weight of petrol in overall national energy consumption.