Carlos Body, new Minister of Economy, replacing Nadia Calviño

The President of the Government, Pedro Sánchez, appeared today at the La Moncloa Complex to detail the changes in the Executive due to the departure of the First Vice President and Minister of Economy, Business and Commerce, Nadia Calviño, to preside over the European Investment Bank (EIB).

Calviño will take up his position at the head of the EIB on January 1, 2024, so Sánchez has appointed his replacement today, before the end of the year: this is Carlos Cuerpo, until now Secretary General of the Public Treasury and Financing International. Corps will preside over the Government's Delegate Commission for Economic Affairs. "I have already communicated this decision to the head of State," he assured in the institutional statement made from Moncloa to communicate the changes in the Executive.

The President of the Government has celebrated the appointment of Calviño as head of the EIB and has summarized "his exceptional career in two qualities: solvency and honesty, the same traits of his successor, a deep connoisseur of public administration and economic policy", in Sanchez's words. According to Sánchez, Corpus is a young professional, but of "proven competence" and a public servant with an "exemplary" career within the Administration.

"An economist of enormous prestige both at the national level and in the European institutions and in the multilateral financial organizations and a deep connoisseur of Public Administration and economic policy, a prestigious economist and a convinced Europeanist, with no other agenda than to be useful to the social majority of this country". His policies will have a continuity of those undertaken until now by Calviño, Sánchez has pointed out.

Sánchez has also announced that with these changes the Fourth Vice Presidency will be eliminated, and the also 'number two' of the PSOE, Montero, will now leave the Public Service powers, which will be assumed by José Luis Escrivá together with the Ministry of Digital Transformation, which will call you Ministry of Digital Transformation and Public Service.

The new Minister of Economy, Commerce and Business began his career as a senior official in the public service, joining the Corps of State Economists in 2008. Later, in 2014, he worked as a national expert in the General Directorate of Economic and Financial Affairs of the European Comission.

Body (Badajoz, 1980) has a degree in Economics from the University of Extremadura, a PhD in Economics from the Autonomous University of Madrid and a master's degree from the London School of Economics. He entered the Superior Corps of Commercial Technicians and State Economists by competitive examination in 2008 and rose to the position of Secretary General of the Treasury and International Financing on August 24, 2021 in the Ministry of Economic Affairs and Digital Transformation.

Before joining the Treasury, he was General Director of Macroeconomic Analysis of the same Ministry, then directed by Calviño. In this position, he managed the Government's official macroeconomic forecasts that accompany the General State Budgets, the Budget Plan and the Stability Program of Spain. Prior to his appointment as CEO, between 2014 and 2020, Corpus worked at the newly created Independent Authority for Fiscal Responsibility (AIReF) of Spain, first as Deputy Director of Public Debt and later as Director of the Economic Analysis Division.

Between 2008 and 2011 he was an economic analyst at the General Directorate of Macroeconomic Analysis and International Economy at the Ministry of Economy and Competitiveness. Between 2011 and 2014, Corpus worked as a national expert in the Directorate General for Economic and Financial Affairs at the European Commission.

From 2014 to 2020 he carried out his professional activity at the Independent Authority for Fiscal Responsibility (AIReF), first as deputy director of Public Debt and later as director of the Economic Analysis Division.

In his years in the Treasury he has managed to reduce the net financing of the Treasury, in line with the Government's commitment to reduce the deficit and the debt/GDP ratio which, according to the latest estimates, will drop to 108.1% in 2023 and to 106.3% in 2024, a drop of 19 percentage points from the peak in 2021.