The Basque economy ends this year with GDP growth of almost 4.2%, registering a second half of almost flat growth, with some 15,000 additional social security members.
Euskaraz irakurri: EAEko ekonomia % 1.5 haziko da 2023an eta enplegua sortuko da, Confebasque arabera
The Basque employers’ organization Confebask foresees an increase in GDP in the Basque Country of about 1.5% and more employment in 2023, although it does note a slowdown in the growth rate.
The president of Confebask, Isabel Busto and the secretary general Eduardo Aretxaga, presented the situation report of the business organization and the forecasts for 2023, which are halfway those of the Basque government, which calculates an increase of 2.1% for the coming year , and that of BBVA, which remain at 0.8%.
According to Confebask, the Basque economy will close this year with GDP growth of almost 4.2%, registering a second half of almost flat growth, with some 15,000 more Social Security members, to nearly a million (993,255, with November data); and an unemployment rate of 8%.
For the year 2023the employer foresees a growth of about 1.5%, although this forecast is part of many uncertainties -such as the war in Ukraine- and depending on how they evolve, the final growth could fluctuate between 0% and 2.5%.
In any case, the slowdown of the Basque economy will continue in 2023, despite the fact that growth will exceed that of Europe and that of the Spanish economy.
Employment remains the most important asset. The prediction is that they can win 10,000 new membersuntil the one million contributor mark is crossed, although the pace of job creation will slow compared to this year.
With that, the unemployment rate drops to 7% in Euskadione point lower than this year’s unemployment rate and comparable to the European average.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
