The economy performed better than expected in the first quarter, despite high inflation and rising interest rates. GDP increased by 0.5% at the national level, mainly due to the increase in exports and investment, pushing the economy to grow at 3.8% year-on-year, nine-tenths more than in the last half of 2022. But there are areas where the economy accelerated more than in others, mainly because of the tourism factor. For this reason, the Balearic Islands were the community with the highest annual GDP growth, with an increase of 5.9%, almost doubling the national average, according to data released this Wednesday by the Tax Office (Airef). It is followed by the Canary Islands, with a growth of 5.7%, and the Community of Madrid, with a regional GDP increase of 4.3%. Andalusia (4%) and Catalonia (3.9%) were also above average. On the contrary, the weakest increase was recorded in the Principality of Asturias, with a variation rate of only 2.2%, almost half of the national average. They are followed by Cantabria (2.3%) and Extremadura (2.5%). La Rioja (2.7%), Galicia (2.9%), Castilla y León (2.9%), Aragon (3%), Comunidad Valenciana (3.3%) also remained below the average for Spain.) , Basque Country (3.5%) , Castilla-La Mancha (3.5%), Murcia (3.7%) and Navarra (3.7%). Desktop Code !function(){“use strict”;window.addEventListener(“message”,(function(a){if(void 0!==a.data[“datawrapper-height”]){var e=document.querySelectorAll(“iframe”);for(var t in a.data[“datawrapper-height”])for(var r=0;r[r].contentWindow===a.source){var i=a.data[“datawrapper-height”]
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
