bosco ojeda, head of reach from ubs.hank you for joining us talk about president spanish economy and on appaper, things look good. can you give us your impression? >> thank you, charlotte. spain suffered during covid. gdp was down 11% one of the worst in europe now things are catching up recovery situation tourism was hit very hard. now that is recovering we are thinking the outlook for spain looks quite abgood there is public debt public debt is very high there is a need to combat with reforms. >> reporter: that is the key data is 130% of gdp. fiscal consolidation is on the way for whoever wins >> public deficit is too high. popularity party will focus on the track record on that front is good. we think any party would focus on combat controls that will take a little bit of growth, but european friends are coming in. that is an issue which is underestimated by the market and that helps the economy to grow 2% in the next three years that is higher than europe >> reporter: i wanted to ask about that spain is the second la